Lucara Raise C$110 Million in Private Placement

Lucara Diamond Corp. announced Thursday that its agreement with a syndicate of agents, led by GMP Securities L.P., to issue on a "best efforts" private placement basis, up to 100 million shares at a price of Cdn $1.00 (US$0.96) per share, has been approved.

The private placement was announced on December 1 and closed Wednesday, according to a release by Lucara.

Lucara has recently signed an agreement to buy the AK6 project in Botswana from De Beers. The proceeds from the issue will be held in escrow until the agreement is approved by the Government of Botswana and is deemed to have met all required shareholder and regularity approvals.