ARCF IV raises $5.7 million in registered direct offering

ARCF IV Participates in US$5.7 million Registered Direct Offering

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TORONTO, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Arias Resource Capital Fund IV L.P. (“ARCF IV”) announced that it has agreed to invest US$1,299,999.68 (the “Investment”) in units (“Units”) of Largo Inc. (“Largo” or the “Issuer”) (TSX: LGO) (NASDAQ: LGO). This transaction is part of Largo’s previously announced US$5.7 million registered direct offering (the “Offering”).

ARCF IV agreed to purchase 2,321,428 Units of Largo at a price of US$0.56 per Unit. Each Unit consists of one common share (“Common Share”) in the capital of Largo and one common Share purchase warrant (“Warrant”). Each Warrant has an exercise price of US$0.70 per Warrant. The Warrants are exercisable for a period of five years from the date of issuance. The securities were issued directly from treasury and the transaction closed on September 29, 2026.

Following the transaction, Arias Resource Capital Fund II L.P. (“ARCF II”), Arias Resource Capital Fund II (Mexico) L.P. (“ARCF II Mexico”), Arias Resource Capital Fund III L.P. (“ARCF III”), and Arias Resource Capital Fund IV L.P. (“ARCF IV”, and together with ARCF II, ARCF II Mexico, and ARCF III, the “ARC Funds”) will own, in the aggregate, 35,278,481 Common Shares and 7,239,461 Warrants. J. Alberto Arias has been granted, for service on the Largo Board of Directors, a total of 164,565 vested options to acquire Common Shares (“Options”), holds 336,913 Restricted Share Units (“RSUs”), and holds 62,533 Common shares directly. Additionally, Arias Resources Capital GP Ltd. (“ARC GP”) owns 6,547 shares.

Giving effect of the Offering and assuming the full exercise of the new and existing Warrants, Options, and RSUs, the Common shares held by the ARC Funds, ARC GP, and J. Alberto Arias, collectively, would total 43,019,420 Common Shares representing approximately 35.01% of the total outstanding Common Shares of Largo on a partially diluted basis. On a non-diluted basis, the ARC Group’s holdings represent approximately 30.64%. This represents a post-transaction ownership summary as outlined below:

		Common Shares issuable on exercise or conversion
	Common Shares Owned	Warrants Held	Option Shares	Restricted Share Units (“RSUs”)	Partially Diluted Total	% Share (Non- Diluted)