• Lucara Diamond is announcing a bought-deal public offering and private placement for total proceeds of C$38 million
  • The bought-deal public offering, led by BMO Capital Markets, is expected to generate proceeds of $22M
  • The private placement is expected to generate C$16M
  • The public offering and private placement are expected to close on July 15
  • Proceeds will be used to support the development and ongoing operation of the Karowe diamond mine
  • Lucara Diamond Corp is a diamond mining company engaged in the development and operations of diamond properties in Africa
  • Lucara Diamond Corp. (LUC) is down 2.38 per cent, trading at C$0.82 per share at 4 pm ET

Lucara Diamond (LUC) has announced a bought-deal public offering and private placement for total proceeds of C$38 million.

The underwriters, led by BMO Capital Markets, have agreed to acquire 29,400,000 common shares on a bought deal basis, at a price of C$0.75 per share for gross proceeds of approximately C$22 million. Lucara has granted the underwriters an over-allotment option exercisable for a period of 30 days following the closing of the offering.

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. (Nemesia) and other investors on a private placement basis. Shares issued pursuant to the private placement will be subject to a 4 month hold period.

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 to support the development and ongoing operation of the Karowe diamond mine.

In respect of the public offering, shares will be offered in British Columbia, Alberta, Manitoba and Ontario and may also be offered by way of private placement in the United States.

Lucara Diamond Corp is a diamond mining company engaged in the development and operations of diamond properties in Africa.

Lucara Diamond Corp. (LUC) is down 2.38 per cent, trading at C$0.82 per share at 4 pm ET.

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