Ellegrove Capital Ltd.

September 10, 2008 13:06 ET

Ellegrove Capital Ltd.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - Ellegrove Capital Ltd. ("Ellegrove"), a Barbados resident company, through a joint actor, announces that it has acquired 2,777,777 common shares of Lucara Diamond Corp. ("Lucara") pursuant to a non-brokered private placement.

As a result of this acquisition, Ellegrove together with its joint actors, hold as at the date hereof, an aggregate of 11,777,777 common shares which aggregate holdings represent approximately 18.4% of the issued and outstanding shares of Lucara.

Ellegrove and its joint actors acquired the securities of Lucara for investment purposes only and not for the purpose of influencing control or direction over Lucara. Ellegrove and its joint actors will, however, review its holdings in Lucara from time to time and may increase or decrease its position as future circumstances dictate.

Ellegrove is owned by a trust whose settlor is the Estate of Mr. Adolf H. Lundin.

ELLEGROVE CAPITAL LTD.

Mohammed Patel, Authorized Representative

Contact Information

  • Ellegrove Capital Ltd.
    Aksel Azrac
    +41 22 595 1830