ARCF IV invests $1.3M in Largo Inc. direct offering

Arias Resource Capital Fund IV L.P. (ARCF IV) has agreed to invest US$1,299,999.68 in Largo Inc. (TSX: LGO, NASDAQ: LGO) as part of the company's US$5.7 million registered direct offering, according to a press release issued under Canadian early warning reporting requirements.

ARCF IV purchased 2,321,428 units at US$0.56 per unit. Each unit consists of one common share and one warrant with an exercise price of US$0.70, exercisable for five years from issuance. The transaction closed on September 29, 2026, with securities issued directly from treasury.

Following the transaction, the ARC Funds collectively — comprising ARCF II, ARCF II (Mexico), ARCF III, and ARCF IV — hold 35,278,481 common shares and 7,239,461 warrants in Largo. On a non-diluted basis, the ARC group's holdings represent approximately 30.64% of Largo's outstanding common shares. Assuming full exercise of all warrants, options, and restricted share units, the partially diluted total would reach 43,019,420 common shares, representing approximately 35.01%.

J. Alberto Arias, director of the general partners of the ARC Funds, holds 164,565 vested options, 336,913 restricted share units, and 62,533 common shares directly. Arias Resource Capital GP Ltd. holds an additional 6,547 shares.

The ARC Funds are managed by Arias Resource Capital Management L.P. Arias indirectly controls the manager and may be deemed to share voting and dispositive power over Largo securities held by the ARC Funds, though he disclaims beneficial ownership beyond his pecuniary interest.

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