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BRIEF-Largo says termination and waiver of March, June capitalization requirements

Published 2017-07-12, 08:05 a/m
© Reuters.  BRIEF-Largo says termination and waiver of March, June capitalization requirements
LGO
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July 12 (Reuters) - Largo Resources Ltd LGO.TO

* Largo announces termination and waiver of March and June 2017 capitalization requirements, respectively, by Brazilian banks

* Largo Resources Ltd- lenders under company's existing debt facilities have agreed to terminate US$5 million March 2017 capital injection requirement

* Largo Resources - Vanádio de Maracás will pay, out of cash flow from operations, about CDN$13 million in amounts owing to lenders over course of 2017

* Largo Resources -lenders under existing debt facilities agreed to postpone additional US$5 million June 2017 capitalization requirement until Dec 31, 2017

* Largo Resources - lenders agreed if co complies with payment obligation then on Dec 31, 2017, June 2017 capitalization requirement will be terminated Source text for Eikon: ID:nCNWb4H0ta Further company coverage: LGO.TO

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