Lucara closes C$41.4m financing

15th July 2021 By: Tasneem Bulbulia - Senior Contributing Editor Online

Canadian miner Lucara Diamond Corp has closed its previously announced bought deal financing, as well as the previously announced concurrent private placement, for aggregate gross proceeds of about C$41.4-million.

The net proceeds of the financing will be used for working capital to support the ongoing operation of the Karowe diamond mine, as well as the Karowe underground expansion project.

Pursuant to the offering, 33.8-million common shares of the company were sold for aggregate gross proceeds of about C$25.4-million.

Pursuant to the concurrent private placement, 21.3-million common shares were sold for additional aggregate gross proceeds of about C$16-million.