Lucara to raise at least $70m in private placement to fund Karowe underground project
Independent diamond producer Lucara Diamond Corp, which owns and operates the Karowe mine, in Botswana, is planning to raise $70-million in a private placement of about 437.5-million shares at a price of $0.16 each. The miner notes that trusts settled by the late Adolf H Lundin (the Lundin Family Trusts) have indicated their intention to participate in the private placement in order to maintain, and potentially increase, their interest in the company by subscribing for up to $70-million of the private placement. Nemesia, a private entity controlled by the Lundin Family Trusts, is currently Lucara's largest shareholder.
Independent diamond producer Lucara Diamond Corp, which owns and operates the Karowe mine, in Botswana, is planning to raise $70-million in a private placement of about 437.5-million shares at a price of $0.16 each. The miner notes that trusts settled by the late Adolf H Lundin (the Lundin Family Trusts) have indicated their intention to participate in the private placement in order to maintain, and potentially increase, their interest in the company by subscribing for up to $70-million of the private placement. Nemesia, a private entity controlled by the Lundin Family Trusts, is currently Lucara's largest shareholder.
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