TORONTO, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Arias Resource Capital Fund III L.P. ("ARCF III") announced that it invested US$6,000,000.26 (the "Investment) in units ("Units") of Largo Inc. ("Largo") as part of Largo's previously announced US$23.4 million registered direct offering and private placement (the "Offering"). ARCF III purchased 4,918,033 Units of Largo at a price of US$1.22 per Unit. Each Unit consisted of one common share ("Common Share") in the capital of Largo and one Common Share purchase warrant ("Warrant") with an exercise price of US$1.22 per Warrant, which are immediately exercisable upon issuance and will expire five years from the date of issuance. US$5 million of the Investment was advanced to Largo by ARCF III pursuant to a convertible bridge loan, which converted into Units upon the closing of the Offering.
Arias Resource Capital Fund II L.P. ("ARCF II"), Arias Resource Capital Fund II (Mexico) L.P. ("ARCF II Mexico"), and Arias Resource Capital Fund III L.P ("ARCF III", and together with ARCF II and ARCF II Mexico, the "ARCF Funds"), own, in the aggregate, 32,887,973 Common Shares and 4,918,033 Warrants. J. Alberto Arias has been granted, for service on the Largo Board of Directors, a total of 173,309 vested options to acquire Common Shares ("Options") and holds 62,533 Common Shares directly. Additionally, Arias Resource Capital GP Ltd. ("ARC GP") owns 6,547 shares. Giving effect to the Offering and assuming the full exercise of the Warrants owned by ARCF III and the Options owned by J. Alberto Arias, the Common Shares held by the ARCF Funds, ARC GP and J. Alberto Arias, collectively, would represent approximately 43.0% of the total outstanding Common Shares of Largo, on a partially diluted basis, representing a decrease of approximately 0.8%, as summarized below:
Common Shares issuable on exercise or conversion
