Lucara Diamond announces $38 million financing for Karowe in Botswana

Lucara Diamond (TSX: LUC) is raising $22 million in a bought deal financing to advance work at its 100%-owned Karowe diamond mine in […]
The Lesedi La Rona 1,109-carat diamond, discovered in 2015 at Lucara Diamond’s Karowe diamond mine in Botswana. Credit: Lucara Diamond.

Topics

Commodities

Regions

Tags

Companies

Lucara Diamond (TSX: LUC) is raising $22 million in a bought deal financing to advance work at its 100%-owned Karowe diamond mine in central Botswana, about 350 km north of the capital Gaborone.

A syndicate of underwriters led by BMO Capital Markets will purchase 29.4 million common shares in the company at 75¢ per share. The deal also includes an over-allotment option for an additional 15% of the public offering at the offer price.

Lucara is also raising about $16 million in a private placement with Nemesia S.a.r.l and certain other investors on the same terms as the bought deal.  

Continue reading at The Northern Miner

Comments

Your email address will not be published. Required fields are marked *

Nov 13 2024 - Nov 14 2024
Nov 14 2024 - Nov 15 2024
Nov 14 2024 - Nov 16 2024