Lucara Diamond Corp. announced the sale of its 100% interest in the Clara Rough Diamond Sales Platform to its original founders, including the HRA Group of Companies and Eira Thomas. The transaction included US$3.0 million (approximately CAD 4.05 million) in cash, the return of 10,000,000 Lucara shares, and the assumption of liabilities tied to performance metrics, amounting to a share issuance obligation of 13,400,000 Lucara shares. Lucara retained a 3% Net Profit Interest and granted Clara a 5-year rough diamond supply agreement.

The transaction has an effective date of October 4, 2024, and remained subject to customary closing conditions.

Blake, Cassels & Graydon LLP advised Lucara, while Fasken Martineau DuMoulin LLP advised the buyers with a team led by Grant McGlaughlin, including Brittany Vanword, Enoch Chang, and Kevin Yip.