TIDM0QUI
RNS Number : 9668Z
Lucara Diamond Corp
16 January 2020
January 15, 2020
PRESS RELEASE
LUCARA ENTERS INTO COLLABORATION WITH LOUIS VUITTON TO POLISH
THE HISTORIC 1758 CARAT SEWELÔ, BOTSWANA'S LARGEST DIAMOND
VANCOUVER, January 15, 2020/CNW/ - (LUC - TSX, LUC - BSE, LUC -
Nasdaq Stockholm)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce that it has entered into a collaboration with Louis
Vuitton ("LV"), the famous luxury House, and the HB Company ("HB"),
a diamond manufacturer from Antwerp, to manufacture its historic,
record setting, 1758 carat Sewelô diamond recovered from its 100%
owned Karowe Diamond Mine in Botswana in April 2019 (see Lucara
Press Releases April 25, 2019, and July 18, 2019).
Sewelô, which means "rare find" in Setswana, is the second,
+1000 carat diamond recovered from Karowe in four years and the
largest ever recovered in Botswana. The diamond has been
characterized as near gem of variable quality, with recent analysis
confirming that it also includes domains of higher-quality white
gem. Lucara believes that the full potential of this special stone
will only be revealed once polished. The purpose of this
unprecedented collaboration between a miner, a cutting edge
manufacturer and a large luxury brand will be the planning, cutting
and polishing of a collection of diamonds from Sewelô. Lucara will
receive an up front non-material payment for the Sewelô and retain
a 50% interest in the individual polished diamonds that result.
Further, 5% of all of the retail sales proceeds generated from
this historic collection will be invested directly back into
Botswana on community-based initiatives undertaken by Lucara.
Eira Thomas CEO commented: "We are delighted to be partnering
with Louis Vuitton, the famous luxury House, to transform the
historic, 1,758 carat Sewelô, Botswana's largest diamond, into a
collection of fine jewellery that will commemorate this
extraordinary discovery and contribute direct benefits to our local
communities of interest in Botswana."
Eira Thomas
President and Chief Executive Officer
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LinkedIn
For further information, please contact:
North America Christine Warner, Investor Relations & Communications
+1 604 689-7842 | info@lucaradiamond.com
Sweden Robert Eriksson, Investor Relations & Public
Relations
+46 701 112615 | reriksson@rive6.ch
UK Public Relations Emily Moss / Jos Simson, Tavistock
+447788554035 | lucara@tavistock.co.uk
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Mine in
Botswana and owns a 100% interest in Clara Diamond Solutions, a
secure, digital sales platform positioned to modernize the existing
diamond supply chain and ensure diamond provenance from mine to
finger. The Company has an experienced board and management team
with extensive diamond development and operations expertise. The
Company operates transparently and in accordance with international
best practices in the areas of sustainability, health and safety,
environment and community relations.
The information in this release is subject to the disclosure
requirements of the Company under the EU Market Abuse Regulation.
This information was publicly communicated on January 15, 2020, at
2:30 pm Pacific Time.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein and
elsewhere constitute forward-looking statements as defined in
applicable securities laws. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be achieved.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
they are subject to a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking statements. The
Company believes that expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be accurate and such
forward-looking information included herein should not be unduly
relied upon.
There can be no assurance that such forward looking statements
will prove to be accurate, as the Company's results and future
events could differ materially from those anticipated in this
forward-looking information as a result of those factors discussed
in or referred to under the heading "Risks and Uncertainties"' in
the Company's most recent Annual Information Form available at
http://www.sedar.com, as well as changes in general business and
economic conditions, changes in interest and foreign currency
rates, the supply and demand for, and the level and volatility of
prices of rough and polished diamonds, the actual results of
interpreting, cutting, planning and polishing rough diamonds, and
the inherent risks in diamond manufacturing and fluctuations in the
luxury goods market.
Accordingly, readers are cautioned not to place undue reliance
on these forward-looking statements which speak only as of the date
the statements were made, and the Company does not assume any
obligations to update or revise them to reflect new events or
circumstances, except as required by law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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