Lucara Announc Es Exclusive Collaboration Agreement Between Clara Diamond Solutions and Sarine Technologies
NEWS RELEASE
LUCARA ANNOUNC ES EXCLUSIVE COLLABORATION AGREEMENT BETWEEN CLARA DIAMOND
SOLUTIONS AND SARINE TECHNOLOGIES
VANCOUVER, August 20, 2018 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)
Lucara Diamond Corp. (“Lucara” or the “Company”) is pleased to announce that Clara Diamond Solutions
Corporation (“Clara”), its 100% owned subsidiary, has entered into a Collaboration Agreement with Sarine
Technologies Ltd. (“Sarine”), the world’s leading developer of technologies for the diamond industry.
Clara will be the exclusive, worldwide customer for customized interfaces and versions of Sarine's Galaxy® inclusion
mapping technology and its Advisor® optimal rough planning for use with Clara’s 100% owned, proprietary digital
diamond sales platform. Clara is on track to launch in 2018, with inaugural rough diamond sales set to commence
in the third quarter.
Eira Thomas, CEO commented: “ Clara is delighted to be partnering with Sarine in a ground -breaking Collaboration
Agreement that will align Sarine and Clara in their efforts to create a new, leading sales channel for rough diamonds
globally. Sarine is the industry leader in diamond Galaxy® scanning and Advisor® planning technology, which is in
widespread use in the diamond industry today. Using these technologies in combination with our proprietary
analytics, Clara will sell rough diamonds on a stone by stone basis, based on a customers’ specific requirements and
needs, aligning rough diamond production to polished demand and unlocking significant value throughout the
diamond pipeline.”
David Block, CEO of Sarine Technologies Ltd. commented: "We are excited to have the opportunity to contrib ute to
this initiative as we believe it will unlock value throughout the diamond supply chain which is a core principle of all
of Sarine’s endeavours. It will provide numerous benefits to the industry as well as to Sarine , as it broadens our
addressable market into the upstream mining and producing segment of the diamond industry value chain. It is also
the first opportunity to extend our pay-per-services paradigm to the actual planning of rough diamonds. We plan to
further cooperate with Clara on its provenance blockchain initiative, as our Diamond JourneyTM is a natural fit.”
How does Clara work?
Clara uses proprietary analytics together with the latest cloud and blockchain technologies to sell diamonds
individually, based on polished demand, transforming the sales process, driving efficiencies and unlocking value for
diamond producers and manufacturers alike. Under the exclusive collaboration agreement with Sarine, selected
diamonds recovered at a mine site will undergo Galaxy® inclusion mapping, creating a digital fingerprint that will be
uploaded to the Clara platform. Simultaneously, diamond buyers will be uploading their specific polished diamond
requirements in terms of size, cut , color and quality for their specific needs, creating an ‘order’ with in Clara. Clara
will use Sarine’s Advisor® optimal rough planning technology together with proprietary analytics to match individual,
scanned rough diamonds to the buyers optimal polished requirements.
What is the benefit?
By eliminating the “batch” style sales process, which is focused on selling diamonds in assortments and can only ever
achieve “average” prices, Clara sells diamonds individually and achieves the best possible price for each diamond.
Diamonds will be uploaded for sale as soon as they are recovered from the mine and processed through the Sarine
Galaxy® scanning and Advisor® planning technology. Batching of rough diamonds for tender, auction, and site
allocation will no longer be necessary, eliminating inventory carrying costs and smoothing out revenue streams.
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Equally transformative for the manufacturers and retailers, Clara will facilitate diamond sales on a stone by stone
basis, allowing customers to purchase only those rough diamonds that meet their spec ific manufacturing
requirements, eliminating the need to re-trade and finance unwanted inventories.
The added benefit of diamond provenance
More than ever, consumers are interested in understanding diamond source and provenance with assurance that
the diamonds have been recovered and sourced in a socially and environmentally responsible manner. Clara is
integrated with blockchain technology, so every rough diamond is tracked with a secure and immutable record of
its origins and ownership, providing peace of mind for consumers.
The way forward
Clara commercialization efforts are well underway and tracking to schedule and budget. Clara has identified a
selection of industry leading diamond manufacturers and integrated jewelry houses that have agreed to participate
in a trial of the Clara digital sales platform beginning in the third quarter of 2018. Clara will initiate sales on the
platform using selected diamonds recovered from Lucara’s Karowe diamond mine. More details about this trial will
be provided in the coming weeks. Thereafter, additional diamond producers and manufacturers will be invited to
try Clara.
Eira Thomas
President and Chief Executive Officer
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For further information, please contact:
Investor and Public Relations +1 604 678-5834, [email protected]
Sweden: Robert Eriksson, Investor Relations +46 701-112615, [email protected]
UK: Louise Mason, Citigate Dewe Rogerson +44 (0)20 7282 2932 [email protected]
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned
Karowe Mine in Botswana. 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 CLARA
Clara Diamond Solutions (Clara), wholly owned by Lucara Diamond Corp, is a secure, digital sales platform that uses
proprietary analytics together with cloud and blockchain technologies to modernize the existing diamond supply
chain, driving efficiencies, unlocking value and ensuring diamond provenance from mine t o finger.
The information in this release is accurate at the time of distribution but may be superseded or qualified by
subsequent news releases.
The information in this release is subject to the disclosure requirements of the Company under the EU Market Abuse
Regulation. This information was publicly communicated on August 20, 2018 at 6:00am Pacific Time.
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CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein and elsewhere constitute forward -looking st atements 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, including in respect of the development and functionality of the technology related to the Clara platform,
the intended benefits and performance of the Clara platform, and the timing and cost of commercialization of the
Clara platform. These assumptions, opinion an d estimates 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 ex pressed 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.
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
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 and polished diamonds, the cost and availability of computational resources, and
unanticipated technical and operational difficulties.
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 updat e or
revise them to reflect new events or circumstances, except as required by law.