RE:RE:RE:Arias Fund etal SEC filing todayDrhoho wrote: I think Arias has plans to disburse to others some of the ~43% he currently directly or indirectly holds, if he has not already done some. ..
Any time Arias "disburses" any one of his shares he must file an insider transaction report in SEDI. Just FYI, today's volume of 95K (smaller than to 10-day average) is too small to indicate a "disbursement"by Arias. Furthermore if Arias wanted to dispose of a chunk of his huge LGO holdings then he would do so via a Secondary Offering by Largo as in 2018.
TORONTO, July 24, 2018 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) announced today the closing of the previously announced underwritten secondary offering of 60,000,000 common shares and an additional 9,000,000 common shares representing the exercise in full of the over-allotment option which was exercised on closing by the underwriters (the "Offering"). The selling shareholders, listed below, received all of the net proceeds from the Offering.
Credit Suisse Securities (Canada), Inc. and Morgan Stanley Canada Limited co-led the Offering, with CIBC Capital Markets acting as joint bookrunner, and Cormark Securities Inc., H.C. Wainwright & Co., LLC and Mackie Research Capital Corp. acting as co-managers.
The selling shareholders under the Offering consisted of Arias Resource Capital Fund L.P., Arias Resource Capital Fund II L.P., Arias Resource Capital Fund II (Mexico) L.P., The Cranley Trust, Cranley Investments Holdings, LLC, and Mark Smith.