LUXEMBOURG, LUXEMBOURG--(Marketwire - July 19, 2011) - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings & Investments S.à.r.l. ("Zebra") announce that on July 18, 2011 they received 2,700,000 common shares and 6,300,000 common shares, respectively, for an aggregate of 9,000,000 common shares of Lucara Diamond Corp. (the "Company"). The common shares were issued to Lorito and Zebra in consideration of the provision of a US$50 million credit facility to the Company via a debenture, as previously announced by the Company on July 7, 2011, and in lieu of interest that would otherwise be payable during the term of the debenture.
Lorito and Zebra owned an aggregate of 51,000,000 common shares of the Company or approximately 14.06% of the Company's previous issued and outstanding share capital. The two entities now own 60,000,000 common shares or approximately 16.14% of the Company's current issued and outstanding share capital. Lorito and Zebra each relied upon the accredited investor exemption provided for in section 2.3 of National Instrument 45-106 in connection with the issuance of the common shares.
Lorito and Zebra have acquired securities in the Company for investment purposes only and may, in the ordinary course of their business, acquire additional securities of the Company depending on market and other conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.