Avesoro Resources Inc. announced that it has entered into a loan agreement in connection with an additional working capital facility (the "New Facility") of up to USD 8,500,000 with Avesoro Jersey Limited to assist with satisfying the company's near term cashflow needs. The company intends to draw down the entire amount available under the New Facility in the coming days, with the funds being made available for general working capital purposes. The New Facility is unsecured and is subordinated to the Company's existing facilities. Interest will be charged on the drawn amount at a fixed rate of 3.0% per annum. The New Facility is due to be repaid in full no later than 12 months following drawdown. There is no early repayment penalty. Following drawdown of the New Facility, the balance of working capital loans provided by AJL to the Company is USD 55,735,025.