Paragon Diamonds Enters Share Purchase Agreement with Lucara

Paragon Diamonds Ltd. (LSE:PRG) announced that it’s entered into a legally binding share purchase agreement with Lucara Diamond Corp. (TSX:LUC) regarding the acquisition of the Lesotho-based Mothae kimberlite resource.
As quoted in the press release:

The Acquisition remains subject to approval from the Government of Lesotho and completion of funding, as previously announced.
Paragon’s Managing Director Dr Stephen Grimmer, who is based in Lesotho, has provided extensive details of the Company’s ability to fund the long term development of the Mothae mine to the Minister and the Company is now awaiting formal Government approval for the Acquisition. Further announcements regarding the Acquisition will be made at that time.

Click here to read the full Paragon Diamonds Ltd. (LSE:PRG) press release.