New York City firm to advance investor awareness and related corporate issues
TORONTO, Oct. 6, 2015 /CNW/ - Largo Resources, Ltd. ("Largo" or the "Company") (LGO: TSX.V), an exploration, development and vanadium producing mining company, today announced the entering into of a consulting agreement with Murdock Capital Partners Corp. ("Murdock"), of New York, NY. According to the terms of the agreement, Murdock will act as the investor outreach consultant to Largo. "After conducting an extensive search for the appropriate capital markets advisory firm, we were highly impressed with Murdock's 24-year track record of success with companies in the natural resources and energy-related fields," stated Mark, Smith, President and CEO of Largo. "We look forward to consulting with them to broaden our retail and institutional shareholder base through direct communications, research coverage and investor meetings with appropriate parties. We anticipate a long and productive relationship."
Summarizing the newly-formed alliance, Luis J. Mejia, Managing Partner of Murdock, acknowledged Largo management's qualifications. "Largo Resources Ltd. is an exceptionally well managed entity that is embarking upon an aggressive expansion plan to continue to grow the company as a revenue producing entity and a worldwide marketer of vanadium" Mr. Mejia stated. "Revenue growth is projected in the coming months and Murdock Capital is excited about imparting the Largo value proposition to a wide and diversified investor base. We look forward to working with Mark Smith and the entire Largo management team."
The consulting agreement between Largo and Murdock is for an initial term of three months, which may be extended by mutual agreement between the parties. The Company will pay Murdock a monthly fee of US$5,000 for the initial term of the engagement, and US$7,500 per month during the period of any extension of the engagement.
Since its inception, Murdock has assisted in listing nearly two dozen companies on major stock exchanges, including the NYSE New Markets Exchange, the NYSE, NASDAQ, OTCQX, and the Toronto Stock Exchange.
Murdock handles all aspects of investor relations, including the solicitation of industry overviews and company reports, media contacts, institutional and retail brokerage meetings, and has conducted over 20 conferences on specific natural resource opportunities, including vanadium.
Murdock is a private merchant banking firm with 24 years of experience in advisory work with companies in the natural resources and energy-related industries. Murdock Capital acts as financial intermediary and/or principal for small and medium size companies and advises its corporate clients on all aspects of investment banking, including mergers and acquisitions, public and private financing, management buy-outs and corporate divestitures. The company's knowledge and experience in assessing and formulating a corporate strategy includes marketing, strategic alliances and business management, all of which greatly increases the probability of clients' success. Murdock Capital specializes in due diligence, market research, competitive analyses, financial and transaction structuring and corporate advisory services with the ultimate goal of always obtaining the desired results for their clients.
Luis J. Mejia, Managing Partner
Murdock Capital Partners
Largo is a growing strategic mineral company focused on continuing to ramp-up production at its Vanadio de Maracás Menchen Mine.
Largo's Maracás Menchen Mine boasts the highest grade vanadium deposit yet discovered and is expected to be a low cost producer. With an off-take in place with Glencore, Largo is well positioned to become a leading producer of vanadium globally and is expected to generate substantial cash-flows.
Vanadium is primarily used as an alloy to strengthen steel and reduce its weight. Vanadium enhanced steels are used in a vast and growing range of products that are used and encountered every day; including, rebar, automobiles, transport infrastructure etc. With a compound annual growth rate of over 6% for the past several years (Roskill, 2013), vanadium is a bourgeoning commodity which lacks opportunities for investment in the wider market place. As trends in the steel industry now demand increasingly stronger and lighter products for advanced applications, the use of vanadium is expected to continue this growth over the medium and long term.
Largo is listed on the TSX Venture Exchange under the symbol "LGO".
For more information please refer to Largo's website: www.largoresources.com
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Notice Regarding Forward-Looking Information
This press release contains forward-looking information under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Largo's development potential and timetable of its operating, development and exploration assets; Largo's ability to raise additional funds necessary; the future price of vanadium, tungsten and molybdenum; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking statements can be identified by the use of forwardlooking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Largo to be materially different from those expressed or implied by such forwardlooking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forwardlooking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking statements. Largo does not undertake to update any forwardlooking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As.
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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SOURCE Largo Resources Ltd.