LUCARA SECURES CREDIT APPROVED US$220 MILLION SENIOR DEBT FACILITIES FOR THE UNDERGROUND EXPANSION OF THE KAROWE MINE AND EXTENDS AVAILABILITY OF ITS WORKING CAPITAL FACILITY
Vancouver, BC, May 5, 2021 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) 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. 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