Business
LUCARA ANNOUNCES NON-BROKERED PRIVATE PLACEMENT BACKED BY THE LUNDIN FAMILY TRUSTS, TO ADVANCE UNDERGROUND PROJECT
(TSX: LUC) (BSE: LUC) (Nasdaq FNGM: LUC)
About this update from Lucara Diamond Corp.
[{"type":"text","content":"/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./","length":88,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, Jan. 9, 2026 /CNW/ - (TSX: LUC) (BSE: LUC) (Nasdaq FNGM: LUC)","length":76,"tagName":"p"},{"type":"text","content":"Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") of common shares in the capital of Lucara (the "Common Shares") for minimum aggregate gross proceeds of $70.0 million. The Private Placement will consist of the issuance of a minimum of 437,500,000 Common Shares (the "Offered Securities") at a price of $0.16 per Offered Security. All dollar amounts reflected in Canadian dollars unless otherwise stated. View PDF","length":544,"tagName":"p"},{"type":"text","content":"The Company expects that the net proceeds of the Private Placement will be used to advance the Karowe Underground Project (the "UGP"), including for shaft equipping, conveyance commissioning and lateral development, extraction and drill horizon development, as well as for general working capital and corporate purposes.","length":330,"tagName":"p"},{"type":"text","content":"The Offered Securities will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws, and will be subject to a Canadian statutory hold period of four months and one day from the date of issuance. The Company may pay a finder's fee of 5% in connection with a portion of the Private Placement. Completion of the Private Placement will be subject to regulatory approval, including the approval of the Toronto Stock Exchange (the "TSX") and other customary regulatory approvals and closing conditions for a transaction of this nature including, but not limited to, execution of subscription agreements between the Company and the subscribers to the Private Placement. The Private Placement is also conditional upon the Company not being required to obtain any shareholder approvals in respect of the Private Placement (whether by way of exemption by the TSX or otherwise). The Company anticipates closing of the Private Placement to occur in late January, subject to receipt of all necessary regulatory approvals.",...