VANCOUVER, B.C: Lucara Diamond Corp. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets under which the underwriters have agreed to buy on bought deal basis 29.4 million common shares at a price of C$0.75 per Common Share for gross proceeds of approximately C$22 million.

The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Public Offering, to purchase up to an additional 15% of the Public Offering to cover over-allotments, if any. The offering is expected to close on or about July 15, 2021 and is subject to Lucara receiving all necessary regulatory approvals.

The Company is also pleased to announce that it has agreed to launch a concurrent private placement of approximately C$16 million on the same terms as the Public Offering to Nemesia S.à.r.l. and to certain other investors on a private placement basis.

Any Common Shares issued pursuant to the Private Placement will be subject to a statutory hold period in Canada for a period of 4 months and one day. The Private Placement is expected to close on or about July 15, 2021 and is subject to Lucara receiving all necessary regulatory approvals.

The net proceeds of the Public Offering and Private Placement will be used for working capital to support the development and ongoing operation of the Karowe diamond mine.

In respect of the Public Offering, Common Shares will be offered by way of a short form prospectus in British Columbia, Alberta, Manitoba and Ontario and may also be offered by way of private placement in the United States.

Lucara Diamond Corp TSE: LUC

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24 Jun, 4:00 pm GMT-4 ·Disclaimer