TIDM0QUI
RNS Number : 2852E
Lucara Diamond Corp
04 November 2020
November 4, 2020
PRESS RELEASE
LUCARA ANNOUNCES SECOND COLLABORATION AGREEMENT WITH LOUIS
VUITTON, AND HB ANTWERP FOR THE EXCEPTIONAL, 549 CARAT WHITE GEM
DIAMOND "SETHUNYA"
VANCOUVER, November 4, 2020 /CNW/ - (LUC - TSX, LUC - BSE, LUC -
Nasdaq Stockholm)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce that it has entered into an agreement with Louis Vuitton,
the famous luxury goods House and HB Antwerp ("HB"), a European
diamond manufacturing and technology company, for the purpose of
collaborating on the planning, cutting and polishing of the
exceptional, 549 carat white gem diamond referred to as "Sethunya"
meaning "Flower" in Setswana. Sethunya was recovered unbroken from
direct milling of ore sourced from the EM/PK(S) unit of the South
Lobe of Lucara's 100% owned Karowe Mine in February 2020 (image
attached ). This agreement builds on the collaboration, announced
in January, with Louis Vuitton and HB on the historic 1,758 carat
Sewelô, Botswana's largest diamond, recovered from Karowe last year
(see Lucara Press Releases January 15, 2020 , and February 5, 2020
).
Under the arrangement between Lucara, Louis Vuitton, and HB, the
parties will collaborate and plan the creation of the highest value
polished diamonds from the 549 carat rough, which will be made
available to Louis Vuitton exclusively. Lucara will be paid a
purchase price based on the estimated polished outcome, determined
by HB's state of the art scanning and planning technologies, with a
true up paid on the actual achieved polished sales thereafter, less
a fee and the cost of manufacturing. Lucara will receive the
purchase price based on the polished outcome no later than Q4
2021.
In line with their long tradition of personalisation, Louis
Vuitton envisages crafting beautiful, bespoke high value polished
stones of variable size and shape fashioned from this rare specimen
to the client's wishes: the ultimate personalised High Jewellery
experience and the opportunity to create a truly unique gem, a
storied family heirloom. In this way, the client will be involved
in the creative process of plotting, cutting, polishing, and
becoming part of the story that the stone will carry with it into
history.
Eira Thomas, CEO commented: "We are extremely pleased to be
building on the ground breaking partnership established for the
manufacturing of the Sewelô earlier this year, bringing together
the manufacturing and supply chain expertise of HB Antwerp in
collaboration with the world's leading luxury brand, Louis Vuitton,
to transform Sethunya, an exceptionally pure, high colour 549 carat
rough diamond from Karowe, into an extraordinary, bespoke, polished
diamond collection, catering exclusively to the desires of Louis
Vuitton's global customer base."
Eira Thomas
President and Chief Executive Officer
Follow Lucara Diamond on Facebook, Twitter, Instagram, and
LinkedIn
For further information, please contact:
North America Investor Relations & Communications
+1 604 674 0272| info@lucaradiamond.com
Sweden Robert Eriksson, Investor Relations & Public
Relations
+46 701 112615 | reriksson@rive6.ch
UK Public Relations Emily Moss / Jos Simson, Tavistock
+44 778 8554035 | lucara@tavistock.co.uk
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type Ila diamonds from its 100% owned Karowe Mine in
Botswana and owns a 100% interest in Clara Diamond Solutions, a
secure, digital sales platform positioned to modernize the existing
diamond supply chain and ensure diamond provenance from mine to
finger. 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.
ABOUT LOUIS VUITTON
Since 1854, Louis Vuitton has brought unique designs to the
world, combining innovation with style, always aiming for the
finest quality. Today, the House remains faithful to the spirit of
its founder, Louis Vuitton, who invented a genuine "Art of Travel"
through luggage, bags and accessories which were as creative as
they were elegant and practical. Since then, audacity has shaped
the story of Louis Vuitton. Faithful to its heritage, Louis Vuitton
has opened its doors to architects, artists and designers across
the years, all the while developing disciplines such as
ready-to-wear, shoes, accessories, watches, jewellery, and
fragrance. These carefully created products are testament to Louis
Vuitton's commitment to fine craftsmanship.
ABOUT HB ANTWERP
HB Antwerp turns the diamond supply chain upside down starting
with the customer. Using technology, they bring simplicity and
transparency to a typically complex supply chain. Everything
happens in a closed loop called Signum in Antwerp, backed with the
latest technologies and tracked with blockchain making it 100%
transparent from diamond mine to market.
This information is information that the Company is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact person set out above, at 7:30 am Pacific Time on
November 4, 2020.
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 contains forward looking information
pertaining to the following: the ability of Louis Vuitton to
successfully market polished stones to be produced from the 549 ct.
diamond, the value of the polished stones that are ultimately
produced from the 549 ct., the purchase price ultimately paid to
Lucara for the 549 ct. stones 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 the rapidly evolving
regulatory landscape and market conditions related to the COVID-19
pandemic, and the operational and travel bans that have been
imposed or may be expanded into regions impacting Lucara's
operations, 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), and
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).
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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END
AGREZLFBBFLXFBV
(END) Dow Jones Newswires
November 04, 2020 10:41 ET (15:41 GMT)
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