Thank you for visiting Largo Resources, the only 'Pure-Play' producer of vanadium.
As we continue to ramp-up production at the Maracás Menchen Mine, we would like to ensure that our shareholders and all interested parties receive our regular updates on the project’s development.
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Effective October 17, 2014, Largo completed a consolidation of its common shares on a 10 for 1 basis as previously approved by the shareholders.
At that time, approximately 2% of the issued shares were held through the DTC registration system (predominantly due to purchases on the OTC Bulletin Board).
Following the consolidation, and due to new guidelines on exemptions for rule 144(i) implemented at the SEC , DTC requested certain documents and opinions from Largo to maintain its eligibility.
As Largo is not quantified as a reporting issuer in the US, and as a result of this newer SEC guidance, Largo's shares are no longer DTC eligible. As a result, DTC will be pushing the securities out to its participants.
Shareholders affected by this issue should contact their brokers to make arrangements for the securities to either be held through CDS or in physical format.
Largo recommends that investors interested in trading its shares from the US, should use a broker that has trading and registration arrangements in Canada or otherwise trade through US subsidiaries of Canadian banks.
Information for U.S. shareholders
holding their positions through DTC