Largo's VanadiumCorp begins trading on TSX-V
Can you hear the faint sound of a McTurd flushing away the last of us?
2022-09-27 22:31 ET - News Release
See News Release (C-LGO) Largo Inc
Mr. Paul Vollant of Largo Physical reports
LARGO ANNOUNCES TRADING OF LARGO PHYSICAL VANADIUM ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL "VAND"
Largo Inc.'s Largo Physical Vanadium Corp.'s shares commenced trading today on the TSX Venture Exchange under the ticker symbol VAND.
On Sept. 15, 2022, Largo Physical completed its qualifying transaction pursuant to the policies of the TSX-V. Largo Physical met all the postclosing conditions required in respect of the transaction, and on Sept. 23, 2022, the TSX-V granted final approval of the transaction, allowing for the listing of Largo Physical's common shares.
Paulo Misk, president and chief executive officer of Largo, commented: "The listing of LPV shares allows investors direct exposure to vanadium. With this enhanced visibility on the TSX-V, LPV will do its part to raise the profile of vanadium -- a key green transition metal central to clean energy storage and greener steel."
He continued, "LPV's business model could enable the reduction of vanadium commodity costs that typically constitute a significant proportion of the total cost of vanadium redox flow batteries (VRFBs), which could in turn further enhance their adoption."
Alberto Arias, chairman of the board of directors of Largo, commented: "We believe that LPV's business model could be an important innovation in the vanadium and long-duration energy storage industries. One of the biggest challenges for the commercialization of VRFBs has been the high cost of vanadium and periods of price volatility. LPV potentially solves this problem by segregating and maintaining ownership of vanadium used in the VRFBs, such that customers are not affected by vanadium price volatility."
Largo Physical aims to provide a secure, convenient and exchange-traded investment alternative for investors interested in having direct exposure to physical vanadium, which is an important metal in key industries such as steel, aerospace and long-duration energy storage. Vanadium doesn't degrade, is fully recyclable when used as electrolyte in VRFBs and has carbon-reducing attributes when used in steel alloying applications. Largo Physical's strategy is not only to achieve appreciation through the acquisition of vanadium, but to own and actively supply vanadium to end-users of VRFBs, thereby advancing its adoption in long-duration energy storage, especially those associated with renewable energy deployments. This strategy is integral to Largo Physical's business plan as it defrays an important portion of the costs associated with using vanadium in VRFBs.
About Largo Inc.
Largo has a long and successful history as one of the world's preferred vanadium companies through the supply of its Vpure and Vpure+ products, which are sourced from one of the world's highest-grade vanadium deposits at the company's Maracas Menchen mine in Brazil. Aiming to enhance value creation at Largo, the company is in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations in addition to advancing its United States-based clean energy division with its Vcharge vanadium batteries. Largo's Vcharge vanadium batteries contain a variety of innovations, enabling an efficient, safe, and environmental, social and governance aligned long-duration solution that is fully recyclable at the end of its 25-plus year lifespan. Producing some of the world's highest-quality vanadium, Largo has a strategic business plan based on two pillars: (1) vanadium production from its operations in Brazil; and (2) energy storage business in the United States to support a low-carbon future through its clean energy division.
Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol LGO.