/CNW/ - Arias Resource Capital Fund L.P. (the "Fund"), announced that it acquired 13,636,364 special warrants of Largo Resources Ltd. (TSX-V: LGO) (the "Company") at a price of C$0.22 per special warrant (each a "Special Warrant"), by way of a non-brokered private placement transaction that closed on March 9, 2010. Each Special Warrant will entitle the holder to receive upon exercise or deemed exercise, one unit of the Company (a "Unit"). Each Unit will consist of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), subject to adjustment in certain events. Each Warrant is exercisable for one Common Share at an exercise price of C$0.35 for a period of twelve months following the closing date, subject to adjustment in certain events. The Special Warrants will be exercisable by the holders thereof at any time after the closing date for no additional consideration and all unexercised Special Warrants will be deemed to be exercised (for no additional consideration and with no further action on the part of the holder) on the date that is the earlier of: (a) the day that is four months and one day following the closing date; and (b) the fifth business day after a receipt is issued for the final qualification prospectus by the Securities Regulators in each of the qualifying jurisdictions qualifying the distribution of the Units and Warrants issuable upon the exercise of the Special Warrants.