Embee Diamond Technologies Inc.

Embee Diamond Technologies Inc.

June 14, 2016 06:00 ET

The Government of Guinea Authorizes Formation of the Diamond and Gold Bourse of Guinea (DGBG) in Joint Venture With Canadians

PRINCE ALBERT, SASKATCHEWAN--(Marketwired - June 14, 2016) -

Editors Note: There is a photo associated with this press release.

Mr. Saramady Touré, the Guinean Ambassador to Canada, has announced the signing of a government decree by President Professor Alpha Conde, President of the Republic of Guinea for the establishment of the Diamond and Gold Bourse of Guinea Group (DGBG). The Guinea Embassy under the leadership of Ambassador Touré was instrumental to have the Government of Guinea ratify the creation of the DGBG on May 26th.

The incorporation of DGBG is a joint effort including her Royal Highness, daughter of King Saud, two Canadians, Mr. I. E. Lakkis from Investissement Royal KSA Inc. of Montreal QC, and Mr. Mike Botha, CEO of Embee Diamond Technologies Inc. (Embee Diamonds) based in Prince Albert, SK, in collaboration with various Guinean governmental departments and other stakeholders. The DGBG will offer membership to diamantaires who are audited members of the prestigious Responsible Jewelry Council. DGBG will apply for membership of the World Federation of Diamond Bourses, once it becomes operational.

Recognizing the demand for Canadian-mined diamonds and the appetite for exceptional and large diamonds from African countries, Mr. Lakkis, engaged several interested parties including Embee Diamonds' founder and Mr. Botha to establish the DGBG. Mr. Lakkis is the CEO of the DGBG and is a personal representative of her Royal Highness, daughter of King Saud. He was appointed as representative for Guinea in the Kingdom of Saudi Arabia for the pursuit of investment opportunities for investors from Saudi Arabia and the Gulf countries and facilitated the funding for the DGBG.

Investissement Royal KSA principals Mr. Lakkis and Ms. R. Omrane, whose mandate is to seek out unique investment opportunities, are in the process of acquiring an equity stake in Embee Diamonds. This as an opportunity to greatly expand Embee Diamond's global footprint. Investissement Royal KSA Inc. was awarded the exclusive rights to Embee Diamond's world-class proprietary cut- Sirius Star®…the world's brightest diamond® in the Gulf states.

"Over the years, the family-owned Embee Diamonds has carved a niche for itself as a world-class diamond-cutting and polishing atelier," said Mr. Lakkis. "Once obtained, such an investment will fund Embee Diamonds' immediate and future expansion plans, and help honour their commitment to their customers and greatly increase the availability of their critically-acclaimed Sirius Star®…the world's brightest diamond® range of diamonds - especially larger, exceptional stones."

Mr. Botha said the company is delighted with its new partnership with Investissement Royal KSA, " With the funding through Investissement Royal KSA, we'll finally be able to give our brand what it deserves in terms of an international footprint and a deep selection of inventory in all sizes, colours and clarities."

Mr. Lakkis added, "We couldn't be more pleased to play a key role in taking the 'world's brightest diamond' to discerning clients internationally. Embee's excellent reputation for high precision diamond cutting and excellent design was recently underscored by the cutting of the Esperanza diamond by Mike Botha. The Esperanza is the most valuable diamond discovered to date in the USA. This diamond, which is a D colour internally flawless with an 'Excellent' pedigree, is a true masterpiece."

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