RE: RE: RE: Fine I had my vent at this and don't want to drag it out, but let's at least recall the full picture. Those 35-cent units were amended. The rest of us weren't offered a chance to get back some of our purchase price from 50 cents or more. Plus there were more shares issued at 22 cents even back then (Mar 8 2012):
https://largoresources.com/Investors/Press-Releases/Press-Release-Details/2012/Largo-Provides-Update-on-BNDES-Debt-Financing-Facility1128575/default.aspx
New Issue:
In order to further development Largo's Vanadium project located in Maracas, (the "Maracas Project") in the interim, Largo has negotiated a short term secured bridge loan facility (the "Bridge Loan") from and (collectively, the "Banks"), for a principal amount of (see details of the Bridge Loan below). In order to complete the BNDES financing and the Bridge Loan, and as a consequence of projected cost increases due mainly to inflation, the strength of the Brazilian currency and the requirement for additional contingency funds, the Company additionally announces that it will raise supplementary equity funding through a proposed non-brokered private placement offering (the "Offering") of up to 63,636,363 units (each a "Unit") of the Company at a price of per Unit for aggregate gross proceeds to the Company of up to (see below for full details of the Offering).
Ammendment to Previous Issue:
... resulting in an effective price of per Subscription Receipt Unit issuable upon conversion of the Amended Subscription Receipts; (d) also effective on the date of the Amendments, the exercise price of the Subscription Receipt Warrants shall be decreased from ; (e) in the event the Escrow Release Conditions have not been met on or before , the number of Subscription Receipt Units into which the Amended Subscription Receipts convert shall be increased by a factor of 1.2, resulting in an aggregate of 294,734,862 Subscription Receipt Units being issuable on conversion of the Amended Subscription Receipts on and after such date and resulting in an effective price of per Subscription Receipt Unit; and (f) also in the event the Escrow Release Conditions have not been met on or before , the exercise price of the Subscription Receipt Warrants shall be further decreased from .