BURGUNDY DIAMOND MINES LIMITED (BDM)

The suspension of trading in the securities of Burgundy Diamond Mines Limited will be lifted from the commencement of trading on Friday, 7 July 2023 following its re-compliance with Chapters 1 and 2 of the ASX Listing Rules.

The company releases the following: Appendix 1A, Information Form and Checklist, Information Form and Checklist Annexure 1 (Mining Entities), Constitution, Arctic Companies Audited Accounts for FY21 and FY22, Trading Policy, Employee Security Incentive Plan, Holdings Range Report, Top 20 Holders Report, Pre-Reinstatement Confirmations.

It is anticipated that the securities of Burgundy Diamond Mines Limited will be reinstated to quotation at 10:00:00 am (+/- 15 seconds) AEST on Friday, 7 July 2023, following its re-compliance with Chapters 1 and 2 of the ASX Listing Rules. BDM raised $197,091,616.50 pursuant to the offer under its Prospectus dated 7 June 2023 by the issue of 788,366,466 shares at an issue price of $0.25 per share.

The company has successfully completed the conditional placement to raise US$150 million to acquire 100% of the common shares of Arctic Canadian Diamond Company Limited and 100% of the shares of Arctic Canadian Diamond Marketing NV from Arctic Canadian Diamond Holding. Eligible shareholders in Australia and New Zealand were invited to participate in a share purchase plan. The SPP raised AUD$3,722,000 with the funds raised to be used for additional working capital.

All resolutions in respect of the Company's proposed acquisition of the Ekati Diamond Mine in Canada, and the conditional placement to raise US$150 million to acquire 100% of the common shares of Arctic Canadian Diamond Company Limited and 100% of the shares of Arctic Canadian Diamond Marketing NV from Arctic Canadian Diamond Holding LLC, have been approved by shareholders at an Extraordinary General Meeting (EGM) held today in Sydney, Australia. ACDC is the 100% owner of all businesses, assets and other interests comprising the Ekati Diamond Mine located in Canada's Northwest Territories. ACDM is the marketing business responsible for management of the supply chain, sorting, preparation, marketing and sales of rough diamonds from Ekati. The acquisition is expected to complete on 1 July 2023.

The company would like to remind Eligible Shareholders with a registered address in Australia or New Zealand that the offer to participate in the Company's share purchase plan to raise a further $10 million closes at 5.00pm (AEST) on 26 June 2023. Completion of the Placement is subject to a shareholder vote to be held at an Extraordinary General Meeting, which will take place on Friday, 23 June 2023.

The share purchase plan offered under the prospectus is now open to eligible shareholders with a registered address in Australia or New Zealand. The SPP is being offered in connection with the conditional placement to raise US$150 million to acquire 100% of the common shares of Arctic Canadian Diamond Company and 100% of the shares of Arctic Canadian Diamond Marketing. The SPP offer opens today and is expected to close at 5.00pm (AEST) on 26 June 2023.

The company releases a prospectus for offers of: up to 773,478,466 Shares at an issue price of A$0.25 per Share to raise ~A$193.4 million (~US$125.7 million) (before costs); and up to 40,000,000 Shares to Eligible Shareholders at an issue price of A$0.25 per Share to raise up to A$10 million (~US$7 million) (before costs). The Underwritten Placement is fully underwritten by Bell Potter Securities Limited, Aitken Mount Capital Partners and Euroz Hartleys Limited. The SPP Offer is not underwritten.

Burgundy Diamond Mines Limited will be holding an extraordinary general meeting at 10.00am (Sydney time) on Friday, 23 June 2023 at Allens, Level 28, Deutsche Bank Place, Corner Hunter & Phillip Streets, Sydney, NSW 2000.

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

The company announces an amendment to the share purchase agreement entered into with Arctic Canadian Diamond Holding on 14 March 2023 to acquire 100% of the common shares of Arctic Canadian Diamond Company Limited and 100% of the shares of Arctic Canadian Diamond Marketing NV. Under the amendment to the SPA, Burgundy and the vendor have agreed that the Debt Repayment is to be made via a combination of cash and scrip, instead of cash only. In exchange for forgiveness of ~US$23 million of debt owed by ACDC, Burgundy agrees to issue existing lenders with US$23 million of shares in Burgundy, provided that the number of shares that will be issued to the existing lenders, when taken together with the scrip consideration, will not be more than 19.9% in voting power in Burgundy.

The company releases a notice of application for quotation of securities.

The company has elected not to exercise the Option Deed with Gibb River Diamonds Ltd to acquire 100% ownership of the Ellendale and Blina projects in the West Kimberley region of Western Australia. Burgundy will therefore cease development of the project immediately.

The company provides details of the Mineral Resources and Ore Reserves for the Ekati Diamond Mine.

Burgundy to acquire the world-class Ekati Diamond Mine in Canada's Northwest Territories for total consideration of US$136 million (~A$209 million). The Proposed Acquisition is transformational for Burgundy "“ post completion, the Company will become the largest ASX-listed diamond company and one of the largest listed diamond companies globally. In 2022, Ekati sold 4.2 million carats (Mcts) and delivered revenue of US$494 million and adjusted EBITDA2 of US$200 million. The Proposed Acquisition completes Burgundy's strategy of becoming truly vertically integrated across the diamond value chain. To fund the Proposed Acquisiton, Burgundy will conduct an equity raising via a conditional placement to raise up to US$150 million (~A$231 million).

The company requests an extension of the voluntary suspension of its securities pending the release of an announcement.

The company has achieved a 40% interest in the Naujaat Diamond Project.

The company lodges its Half Year Accounts.

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

The securities of Burgundy Diamond Mines Limited ("˜BDM') will be suspended from quotation immediately, at the request of BDM, pending the release of an announcement regarding a proposed material acquisition ("˜the Proposed Acquisition'). BDM's securities will remain suspended until it has either complied with Chapters 1 and 2 of the Listing Rules under Listing Rule 11.1.3, or provided ASX with sufficient information to satisfy ASX that it should not exercise its discretion under Listing Rule 11.1.2 to require the transaction to be conditional on approval by BDM's ordinary security holders, and under Listing Rule 11.1.3 to require BDM to recomply with Chapters 1 and 2 of the Listing Rules.

name changed from EHR Resources Limited