LUCARA ANNOUNCES MANAGEMENT CHANGES
Lucara Diamond Corp. ("Lucara" or the "Company")
(TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) wishes to
announce that effective April 1, 2018 Zara Boldt will be assuming
the role of Chief Financial Officer and Corporate Secretary of the
Company. Mr. Glenn Kondo, Chief Financial Officer and Ms. Jennifer
Lecour, Vice-President, Legal and Corporate Secretary will be
stepping down from their respective roles as of March 31, 2018 to
pursue other opportunities.
Eira Thomas, Lucara’s CEO commented: “I am
delighted to be welcoming Zara into her new role as Lucara’s CFO
and Corporate Secretary where she will be focused on maximizing the
value of Lucara’s core diamond mining business at Karowe, and will
also support the development of Clara, our new secure, digital
diamond sales platform.
On behalf of the Board, I would also like
to take this opportunity to thank Glenn and Jennifer for their long
and valued service to the Company. Under Glenn’s leadership, the
Company has developed and fostered a strong culture of fiscal
responsibility and operational excellence, supported by a finance
team with significant experience in both Botswana and Canada.
Jennifer’s contributions included the establishment and management
of key commercial contracts at Karowe, and the development of
strong governance framework for the Company.”
These moves are being taken to consolidate all
of the Lucara management team in a common Vancouver office. Mr.
Kondo and Ms. Lecour have both agreed to remain in an advisory
capacity with the Company until May 31, 2018 to facilitate the
smooth transition of their respective responsibilities to Ms.
Boldt.
Ms. Boldt is a professional accountant (CPA,
CGA) who has spent the majority of her career in progressively
senior financial leadership roles within public companies in the
mineral exploration and development industry. Most recently, Ms.
Boldt served as the CFO & Corporate Secretary for Strongbow
Exploration Inc. In addition, she served as the CFO and
Corporate Secretary of Kaminak Gold Corporation, where she was
responsible for corporate due diligence and the negotiation,
documentation and execution of a Plan of Arrangement for an
acquisition transaction valued at C$520 million. Prior to Kaminak,
Ms. Boldt served for 8 years as the Vice-President, Finance and
Chief Financial Officer for Stornoway Diamond Corporation, where
she was a member of the senior management team responsible for
arranging financing in excess of $900 million for the development
of the Renard Diamond Mine in Quebec. Ms. Boldt is a director and
Chair of the Audit Committee for Bluestone Resources Inc. and Gold
Standard Ventures Corp.
On behalf of the Board,
Eira Thomas Chief Executive Officer
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About Lucara
Lucara is a leading independent producer of
large exceptional quality Type IIa diamonds from its 100% owned
Karowe Mine in Botswana. 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 accurate at
the time of distribution but may be superseded or qualified by
subsequent news releases.
The information in this release is subject to
the disclosure requirements of the Company under the EU Market
Abuse Regulation and the Swedish Securities Market Act. This
information was publicly communicated on March 21 at 2:30 p.m.
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. In particular, this release may contain forward
looking information pertaining to the following: the estimates of
the Company’s mineral reserve and resources; estimates of the
Company’s production and sales volumes for the Karowe Mine;
processing capabilities, recovery rates, cash flows and sales
volumes for the Karowe Mine, including the potential effect of the
development and integration of the proposed underground mine at
Karowe on production, sales volumes and the expected LOM; estimated
costs to construct the proposed Karowe underground development and
the timelines associated therewith; expected exploration and
development expenditures and expected reclamation costs at the
Karowe Mine including associated plans, objectives and economic
estimates; expectation of diamond prices and changes to foreign
currency exchange rate; expectations regarding the need to raise
capital; possible impacts of disputes or litigation; expectations
regarding the growth and development of Clara Diamond Solutions,
its ability to unlock value and its technology and other forward
looking information.
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, deliveries of
and the level and volatility of prices of rough diamonds, costs of
power and diesel, acts of foreign governments and the outcome of
legal proceedings, inaccurate geological and recoverability
assumptions (including with respect to the size, grade and
recoverability of mineral reserves and resources), unanticipated
operational difficulties (including failure of plant, equipment or
processes to operate in accordance with specifications or
expectations, cost escalations, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job actions, adverse
weather conditions, and unanticipated events relating to health
safety and environmental matters), and risks relating to the
development, implementation and growth of Clara Diamond Solutions
and its technology.
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.
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