danke Mathou ..
Largo Resources' Compania Minera Minchoa acquisition
Largo Resources Ltd (C:LGO) Shares Issued 90,676,677 Last Close 7/10/2007 $0.80 Wednesday July 11 2007 - Acquisition
Further to the TSX Venture Exchange bulletin dated Feb. 17, 2004, the TSX Venture Exchange has accepted for filing documentation pertaining to a letter agreement dated Jan. 19, 2004, between Largo Resources Ltd., and Forbes & Manhattan Inc., whereby the company has assumed all the rights and obligations held by the vendor. Prior to the Jan. 19, 2004, agreement, the vendor had entered into a letter agreement dated Oct. 22, 2003, with Gribipe, whereby the vendor had the option to acquire a 51-per-cent interest in Compania Minera Minchoa S.A. (Minchoa), an Ecuadorian company. Pursuant to the two agreements, the company currently has the option to acquire the remaining 49-per-cent interest (for a total of 100-per-cent interest) from Gribipe.
In order to acquire the remaining 49-per-cent interest, the company will make a $1-million (U.S.) cash payment and issue $500,000 (U.S.) worth of shares of the company to Gribipe.
For further information, please refer to the company's press release dated Feb. 12, 2004, and July 9, 2007.
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