VANCOUVER, BC, Sept. 27, 2023 /CNW/ - (TSX: LUC), (BSE: LUC), (Nasdaq Stockholm: LUC) Please view PDF version
Lucara Diamond Corp. ("Lucara" or the "Company") announces the termination of the Diamond Sales Agreement between Lucara, Lucara Botswana (Proprietary) Limited and HB Trading BV ("HB"). Lucara exercised its right to terminate the agreement following a material breach of financial commitments by HB. Lucara will continue to use its established mechanisms to sell Karowe's rough diamond production, namely through its Clara diamond sales platform, traditional tenders and other value-added mechanisms for stones.
William Lamb, CEO stated, "The Lucara production profile is unique in the diamond industry and the Company will continue to look at innovative sales mechanisms to maximize the value of our rough diamonds."
On behalf of the Board,
William Lamb
President and Chief Executive Officer