Lucara Diamond Corp (TSX: LUC) has sold its 100% stake in the Clara rough diamond sales platform to its original founders, a group led by the HRA Group of Companies and company founder Eira Thomas.
Clara is a digital marketplace that revolutionizes rough diamond sales, leveraging technology to connect buyers and sellers while enhancing transparency and trust.
The platform integrates provenance and traceability services for individual rough diamonds, addressing the industry’s growing need for improved standards.
Under the sales agreement, the buyers will acquire Clara Diamond Solution GP, Clara Diamond Solutions LP, Clara Diamond Solutions BV, all associated intellectual property, commercial contracts, and operating assets.
The total deal value is $3 million, along with the return of 10 million Lucara shares issued during Lucara’s acquisition of Clara in 2018.
Lucara retains a 3% net profit interest in Clara’s earnings and has also agreed to a five-year rough diamond supply agreement, with the option to terminate after the second anniversary or by mutual consent.
Lucara CEO William Lamb stated, “This divestiture allows us to focus on maximizing returns and long-term value creation at our world-class Karowe diamond mine in Botswana. Our core growth lies in the successful execution of the Karowe underground expansion project.”
Aaron Ariel, Clara’s managing director and original founder, expressed excitement about the future: “Nine years ago, we envisioned a technology that could transform the global rough diamond market.
Now, we are eager to fully realize its potential and establish Clara as the industry’s premier diamond marketplace.”
