TIDM0QUI
RNS Number : 4061F
Lucara Diamond Corp
15 July 2021
Not for distribution to U.S. news wire services or dissemination
in the United States.
July 15, 2021
PRESS RELEASE
LUCARA DIAMOND ANNOUNCES CLOSING OF C$41.4 MILLION FINANCING
VANCOUVER, July 15, 2021 /CNW/ - (LUC - TSX, LUC - BSE, LUC -
Nasdaq Stockholm)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce that it has closed its previously announced bought deal
financing (the "Offering") as well as the previously announced
concurrent private placement (the "Concurrent Private Placement"
and together with the Offering, the "Financing") for aggregate
gross proceeds of approximately C$41.4 million.
Pursuant to the Offering, a total of 33,810,000 common shares of
the Company ("Common Shares"), including 4,410,000 Common Shares
issued pursuant to the over-allotment option, which was exercised
in full, were sold at a price of C$0.75 per Common Share, for
aggregate gross proceeds of approximately C$25.4 million. The
Common Shares issued pursuant to the Offering were offered by way
of a short form prospectus (the "Prospectus") filed in British
Columbia, Alberta, Manitoba, Ontario and Quebec. The Offering was
conducted through a syndicate of underwriters comprised of BMO
Capital Markets and Scotia Capital Inc.
Pursuant to the Concurrent Private Placement, a total of
21,347,733 Common Shares were sold at a price of C$0.75 per share
for additional aggregate gross proceeds of approximately C$16
million, which included an investment by Nemesia S. à .r.l. No
commission or other fee was paid to the underwriters in connection
with the sale of Common Shares pursuant to the Concurrent Private
Placement. The Common Shares issued pursuant to the Concurrent
Private Placement are subject to a statutory hold period in Canada
expiring on November 16, 2021. The Financing is subject to final
approval by the Toronto Stock Exchange (the "TSX").
The net proceeds of the Financing will be used for working
capital to support the development and ongoing operation of the
Karowe diamond mine, including the Karowe Underground Expansion
Project as described in the Company's press release of July 12,
2021.
This news release is not an offer to the public to subscribe for
Common Shares or otherwise acquire Common Shares or other financial
instruments in the Company, whether in Sweden or in any other EEA
Member State and does not constitute a prospectus in accordance
within the meaning of Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017. No such prospectus
has been or will be prepared in connection with the Offering or the
Private Placement.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
Eira Thomas
President and Chief Executive Officer
Follow Lucara Diamond on Facebook, Twitter, Instagram, and
LinkedIn
For further information, please contact:
Investor Relations & Communications
+1 604 674 0272| info@lucaradiamond.com
Sweden Robert Eriksson, Investor Relations & Public
Relations
+46 701 112615 | reriksson@rive6.ch
UK Public Relations Charles Vivian / Jos Simson, Tavistock
+44 79 772 97903| lucara@tavistock.co.uk
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Mine in
Botswana and owns a 100% interest in Clara Diamond Solutions, a
secure, digital sales platform positioned to modernize the existing
diamond supply chain and ensure diamond provenance from mine to
finger. The Company has an experienced board and management team
with extensive diamond development and operations expertise. The
Company operates transparently and in accordance with international
best practices in the areas of sustainability, health and safety,
environment and community relations.
The information in this release is accurate at the time of
distribution but may be superseded or qualified by subsequent news
releases.
This information is information that the Company is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact persons set out
above, at 9:00 a.m. Eastern Time on July 15, 2021.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein and
elsewhere constitute forward-looking statements as defined in
applicable securities laws. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be achieved and
include, without limitation, the proposed use of the net proceeds
of the Financing and the ability of the Company to obtain final
approval from the TSX.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made,
including in respect to the intended use of proceeds and Lucara's
ability to obtain the final TSX approval for the Financing. These
assumptions, opinions and estimates are subject to a number of
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievement expressed or implied by such
forward-looking statements. The Company believes that expectations
reflected in this forward-looking information are reasonable, but
no assurance can be given that these expectations will prove to be
accurate and such forward-looking information included herein
should not be unduly relied upon.
There can be no assurance that such forward looking statements
will prove to be accurate, as the Company's results and future
events could differ materially from those anticipated in this
forward-looking information as a result of those factors discussed
in or referred to under the heading "Risks and Uncertainties" in
the Company's most recent Annual Information Form and under the
heading "Risk Factors" in the Prospectus, which is available at
http://www.sedar.com, as well as changes in general business and
economic conditions, changes in interest and foreign currency
rates, the supply and demand for, deliveries of and the level and
volatility of prices of rough diamonds, costs of power and diesel,
acts of foreign governments and the outcome of legal proceedings,
inaccurate geological and recoverability assumptions (including
with respect to the size, grade and recoverability of mineral
reserves and resources), and unanticipated operational difficulties
(including failure of plant, equipment or processes to operate in
accordance with specifications or expectations, cost escalations,
unavailability of materials and equipment, government action or
delays in the receipt of government approvals, industrial
disturbances or other job actions, adverse weather conditions, and
unanticipated events relating to health safety and environmental
matters).
Accordingly, readers are cautioned not to place undue reliance
on these forward-looking statements which 3 speak only as of the
date the statements were made, and the Company does not assume any
obligations to update or revise them to reflect new events or
circumstances, except as required by law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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END
MSCFLFIVDLIELIL
(END) Dow Jones Newswires
July 15, 2021 09:03 ET (13:03 GMT)
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