Largo Resources Announces Closing of Private Placement Financing

TORONTO, March 14, 2013 /CNW/ - Largo Resources Ltd. (TSX-V:LGO) ("Largo" or 
the "Company") is pleased to announce that it has closed its previously 
announced private placement of common shares (the "Offering") through the 
issuance of 27,747,823 common shares of the Company (the "Common Shares") at a 
price of C$0.23 per Common Share for aggregate gross proceeds of 
$6,381,999.29, all in accordance with the terms contained in a press release 
dated March 4, 2013. Largo intends to use the net proceeds of the Offering for 
general corporate purposes. 
Largo is pleased to announce that funds managed by Arias Resource Capital 
Management LP (the "ARC Funds") and funds managed by Mackenzie Investments 
("Mackenzie") participated in the Offering and acquired a significant 
proportion of the Common Shares issued in the Offering. The ARC Funds and 
Mackenzie are insiders of the Company by virtue of their ownership of Common 
Shares prior to closing. Upon closing of the Offering, the ARC funds own an 
aggregate of 179,308,350 Common Shares, representing 19.98% of the issued and 
outstanding Common Shares. Upon closing of the Offering, Mackenzie holds an 
aggregate of 140,558,228 Common Shares representing 15.66% of the issued and 
outstanding Common Shares. 
The Common Shares issued pursuant to the Offering will be subject to a 
regulatory hold period of four months and one day from the date of issuance. 
The Offering remains subject to final TSX Venture Exchange acceptance of 
requisite regulatory filings. 
The Offering was considered and approved by the board of directors of the 
Company. J. Alberto Arias, a director of Largo who is also the sole director 
of each of the general partners of the ARC Funds and indirectly controls Arias 
Resource Capital Management LP, declared a conflict and recused himself from 
voting on the Offering. There was no materially contrary view or abstention by 
any director approving the Offering. 
Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security 
Holders in Special Transactions ("MI 61-101"), the proposed purchase by the 
ARC Funds and Mackenzie was a "related party transaction". The Company was 
exempt from the requirements to obtain a formal valuation or minority 
shareholder approval in connection with the Offering in reliance on sections 
5.5(a) and 5.7(a), respectively, of MI 61-101, as neither the fair market 
value of the securities received by the ARC Funds and Mackenzie nor the 
proceeds for such securities received by the Company exceeded 25% of the 
Company's market capitalization as calculated in accordance with MI 61-101. 
The material change report is being filed less than 21 days before the closing 
of the Offering as the Company requires the consideration it receives in 
connection with the Offering immediately for working capital purposes 
Largo is a Canadian-based mineral resource exploration and development company 
focused on creating a world leading strategic metals company. Largo's 
properties are comprised of the Maracás Vanadium Project, the Currais Novos 
Tungsten Tailings Project, the Campo Alegre de Lourdes Iron-Vanadium Project, 
all in Brazil, and the Northern Dancer Tungsten-Molybdenum property located in 
the Yukon Territory, Canada. The immediate goal of the Company is to develop 
the Maracás Vanadium Project by Q4 2013 and to produce WO(3) concentrate from 
the reprocessing of tungsten tailings from Currais Novos. Largo's skilled 
management team both in Canada and Brazil, are confident in their ability to 
advance these projects. 
Largo is listed on the TSX Venture Exchange under the symbol "LGO". 
This press release contains forward-looking information under Canadian 
securities legislation. Forward-looking information includes, but is not 
limited to, statements with respect to completion of the private placement, 
Largo's development potential and timetable of the Maracas and Currais Novos 
projects; Largo's ability to raise additional funds necessary; the future 
price of tungsten and molybdenum; the estimation of mineral reserves and 
mineral resources; conclusions of economic evaluation; the realization of 
mineral reserve estimates; the timing and amount of estimated future 
production, development and exploration; costs of future activities; capital 
and operating expenditures; success of exploration activities; mining or 
processing issues; currency exchange rates; government regulation of mining 
operations; and environmental risks. Generally, forward-looking statements can 
be identified by the use of forward-looking terminology such as "plans", 
"expects" or "does not expect", "is expected", "budget", "scheduled", 
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", 
or "believes", or variations of such words and phrases or statements that 
certain actions, events or results "may", "could", "would", "might" or "will 
be taken", "occur" or "be achieved". Forward-looking statements are based on 
the opinions and estimates of management as of the date such statements are 
made. Forward-looking statements are subject to known and unknown risks, 
uncertainties and other factors that may cause the actual results, level of 
activity, performance or achievements of the Largo to be materially different 
from those expressed or implied by such forward-looking statements, including 
but not limited to those risks described in the annual information form of 
Largo and in its public documents filed on SEDAR from time to time. Although 
management of Largo has attempted to identify important factors that could 
cause actual results to differ materially from those contained in 
forward-looking statements, there may be other factors that cause results not 
to be as anticipated, estimated or intended. There can be no assurance that 
such statements will prove to be accurate, as actual results and future events 
could differ materially from those anticipated in such statements. 
Accordingly, readers should not place undue reliance on forward-looking 
statements. Largo does not undertake to update any forward-looking statements, 
except in accordance with applicable securities laws. 
For more information please refer to Largo's 
Please contact: 
Darcie Ladd, Business Development Manager Phone: 416-861-9406 Fax: 
416-861-9747 Web 
SOURCE: Largo Resources Ltd. 
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CO: Largo Resources Ltd.
ST: Ontario
-0- Mar/14/2013 21:58 GMT
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