The definitive sales agreement includes Clara Diamond Solution GP, Clara Diamond Solutions LP and Clara Diamond Solutions BV, including all intellectual property rights, commercial contracts and operating assets.
The total consideration is $3 million on closing and the return of 10 million Lucara common shares initially issued as partial consideration when Lucara acquired Clara in 2018.
Lucara will retain a 3% net profit interest on the net earnings of Clara. Lucara has also granted Clara a five-year rough diamond supply agreement, which may be terminated after the second anniversary or as otherwise mutually agreed between the parties.
“The divestiture of Clara enables us to intensify our strategic focus on maximizing returns and long-term value creation at our world-class Karowe diamond mine in Botswana. The company’s core competencies and future growth reside in the successful execution of the Karowe underground expansion…
