Lucara Diamond Corp. announced that it has received credit approved commitments from a syndicate of five Mandated Lead Arrangers (the ‘MLAs’) for a senior secured project financing debt package of up to USD 220 million (the ‘Facilities’) to fund the underground expansion at Lucara's 100% owned Karowe Mine (‘Karowe’) in Botswana. The Facilities will include two tranches: A project finance facility of USD 170 million to fund the development of the underground project, and a working capital facility of USD 50 million to support the on-going operation of the Karowe open pit mine. Financial closing of the Facilities is subject to satisfactory completion of definitive documentation, and satisfaction of certain terms and conditions, including appropriate KYC checks. The MLAs are ING Bank N.V. (‘ING’), Natixis (‘Natixis’), Societe Generale, London Branch (‘Societe Generale’), Africa Finance Corporation (‘AFC’) and Afreximbank (‘Afrexim’).