Lucara Diamond to acquire Clara Diamond for $29M
Michelle Fyfe reports
LUCARA DIAMOND ANNOUNCES ACQUISTION OF CLARA DIAMOND SOLUTIONS CORPORATION
Lucara Diamond Corp. has agreed to acquire Clara Diamond Solutions Corp., a company whose primary asset is a secure, digital sales platform that will transform how rough diamonds are sold, unlocking value for diamond producers and manufacturers alike. Clara uses proprietary analytics together with cloud and blockchain technologies to modernize the existing diamond supply chain, driving efficiencies and ensuring diamond provenance from mine to finger. Lucara has agreed to purchase Clara for a total upfront consideration of 13.1 million shares of Lucara (approximately $29-million in upfront consideration based on the closing price of Lucara common shares as at Feb. 22, 2018) resulting in approximately 3.7-per-cent dilution to its existing share capital.
- Published: 26 February 2018
- Written by Editor