05:40 PM EDT, 06/11/2025 (MT Newswires) -- Largo (LGO) said Wednesday its unit Largo Resources USA signed a non-recourse factoring facility with a third-party firm to sell certain accounts receivable for up to $10 million in proceeds.

The firm will advance 85% of invoice value, with commission rates ranging from 0.51% for invoices up to 30 days to 1.37% for those up to 90 days, depending on customer terms.

Largo said it is working to establish similar facilities for Largo Inc. ( LGO ) and Largo Commodities Trading, which could expand the total facility to $30 million.

The two-year facility can be terminated by the factor with 90 days' notice or immediately in case of default, according to the company.