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VANCOUVER, May 5, 2021 /PRNewswire/ (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)
Lucara Diamond Corp. is pleased to announce that it has received credit approved commitments from a syndicate of five Mandated Lead Arrangers (the MLAs ) for a senior secured project financing debt package of up to US$220 million (the Facilities ) to fund the underground expansion at Lucara s 100% owned Karowe Mine ( Karowe ) in Botswana. Please view PDF version
The Facilities will include two tranches: A project finance facility of US$170 million to fund the development of the underground project, and a working capital facility of US$50 million to support the on-going operation of the Karowe open pit mine. Financial closing of the Facilities is subject to satisfactory completion of definitive documentation, and satisfaction of certain terms and conditions, including appropriate KYC checks.
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