CORRECTION: LUCARA RECEIVED CONDITIONAL APPROVAL TO CHANGE ITS SWEDISH LISTING TO NASDAQ FIRST NORTH GROWTH MARKET

VANCOUVER, BC, Jan. 24, 2025 /PRNewswire/ -- (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)

Lucara Diamond Corp. ("Lucara" or the "Company") has applied for and today received conditional approval from Nasdaq Stockholm for admission to commence trading on the Nasdaq First North Growth Market in Sweden. The first day of trading on Nasdaq First North Growth Market is expected to be Friday, January 31, 2025. The Company's listing on the Toronto Stock Exchange and the Botswana Stock Exchange will not be affected by this transition. PDF Version

On December 20, 2024, Lucara announced that its Board of Directors had approved the transition of the listing venue of the Company's shares from Nasdaq Stockholm to Nasdaq First North Growth Market. Nasdaq Stockholm has conditionally approved both the Company's application to delist its shares from Nasdaq Stockholm as well as its application for admission to commence trading on the Nasdaq First North Growth Market. The transition is contingent on the Company fulfilling the requirement for distribution shares in accordance with the Nasdaq First North Growth Market Rulebook, making the necessary updates to its the website at least two days prior to the anticipated commencement of trading on Nasdaq First North Growth Market, and further that no material events occur prior to the change in the listing venue which could trigger another assessment by Nasdaq Stockholm.

The last day for trading of the Company's shares on Nasdaq Stockholm expected to be January 30, 2025, and the first day for trading on Nasdaq First North Growth Market is expected to be January 31, 2025.

The shareholders in Lucara are not required to take any measures in connection with the list change.

Following a transfer in the Swedish listing venue, the Company will continue to publish interim reports quarterly, which, as before, will be prepared in accordance with IFRS Accounting Standards, including International Accounting Standard 34, Interim Financial Reporting. Lucara has a long history of operating in a public environment and will continue to communicate transparently with market participants.

The Board of Directors has determined that the transition to Nasdaq First North Growth Market is in the best interest of the Company, as its market capitalization aligns more closely with this exchange and creates a favourable environment for competing with peer companies. The transition further reinforces the Company's strategic focus on advancing its underground mining project.

On behalf of the Board,

William Lamb
President and 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 Diamond Mine in Botswana. The Karowe Mine has been in production since 2012 and is the focus of the Company's operations and development activities. Lucara has an experienced board and management team with extensive diamond development and operations expertise. Lucara and its subsidiaries operate transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment, and community relations. Lucara is certified by the Responsible Jewellery Council, complies with the Kimberley Process, and has adopted the IFC Performance Standards and the World Bank Group's Environmental, Health and Safety Guidelines for Mining (2007). Accordingly, the development of the Karowe underground expansion project ("UGP") adheres to the Equator Principles. Lucara is committed to upholding high standards while striving to deliver long-term economic benefits to Botswana and the communities in which the Company operates. 

The information in this release is subject to the disclosure requirements of Lucara pursuant to the Swedish Financial Instruments Trading Act. The information contained in this news release was accurate at the time of dissemination but may be superseded by subsequent news release(s). The Company's certified adviser on the Nasdaq First North Growth Market is Bergs Securities AB, ca@bergssecurities.se, +46 739 49 62 50. This information was submitted for publication, through the agency of the contact person set out above, on January 24, 2025, at 11:00 a.m. Pacific Time.

For further information, please contact: Vancouver, Hannah Reynish, 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|Charles Vivian / Emily Moss, Tavistock, +44 77 885 54035 | lucara@tavistock.co.uk