• Burgundy's subsidiary, Arctic Canadian Diamond Company Ltd. (ACDC), has filed for insolvency protection under the Companies' Creditors Arrangement Act (CCAA)
• ACDC owns and operates the Ekati Diamond Mine
• Filing was necessitated by factors including US tariffs, challenging demand conditions, and increasing costs

Burgundy Diamond Mines Limited (ASX: BDM) has announced that its subsidiary, Arctic Canadian Diamond Company Ltd. ('ACDC'), has filed for insolvency protection under the Companies' Creditors Arrangement Act ('CCAA'). ACDC owns and operates the Ekati Diamond Mine. The filing was necessitated by a number of factors, including the ongoing adverse impact of US tariffs on the natural diamond industry, sustained challenging demand conditions being experienced by all natural rough diamond producers globally, and increasing costs, including as a result of recent significant increases in fuel prices due to the conflict in the Middle East. Burgundy has been working consistently to cut costs and recast its business plan to focus on producing the highest quality goods within its asset base. However, after careful consideration of all other available alternatives, Burgundy's board of directors determined that it is in the best interests of ACDC and all its stakeholders to seek protection under the CCAA. Burgundy's commitment to employees and local communities remains a priority, and ACDC intends to continue mining operations at Ekati Diamond Mine during the CCAA process. Burgundy continues to believe in the long-term viability of the Ekati Diamond Mine and intends to emerge stronger, better and able to deliver value to all stakeholders.