Further to the announcement of August 20, 2019, 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 5,000,000 with Avesoro Jersey Limited (AJL) to assist with satisfying the company's near term cashflow needs. The Company has drawn down the entire amount available under the New Facility and the funds have been made available for general working capital purposes. The New Facility is unsecured and ranks subordinated to the Company's existing facilities. Interest will be charged on the drawn amount at a fixed rate of 3% per annum. The New Facility is due to be repaid in full no later than 12 months following drawdown and has no early repayment penalty. Following drawdown of the New Facility, the balance of working capital loans provided by AJL is USD 42,235,025. The company has agreed to the following conditions in relation to the New Facility: the Company will not incur any additional indebtedness or issue any equity interests in the Company until completion of its next Annual General Meeting without the unanimous approval of the Company's board of directors; the Company will not file or initiate any insolvency proceedings until completion of its next Annual General Meeting without the unanimous approval of the Board; the Company will not terminate the employment or appointment of its Chief Executive Officer or Chief Financial Officer until completion of its next Annual General Meeting without the unanimous approval of the Board; following the formal commencement of the Takeover Bid, upon the earlier of the termination of the Takeover Bid in accordance with its terms because the minimum tender condition has not been satisfied or because another condition has not been satisfied due to a force majeure or other event which materially and adversely affects the Company, and January 1, 2020, AJL will have the right to appoint one additional director (who need not be independent) to the Board and to appoint two further independent directors to the Board. Each appointment will be subject to compliance with applicable laws, the on-boarding process, and the approval of the Company's nominated adviser. The Company also announced that it has received loan deferrals as follows: USD 10 million loan principal and associated interest due to AJL under an earlier working capital facility from the due date of March 13, 2020 to October 31, 2020; Deferral of payment obligations under the equipment finance loans from Mapa Insaat Ve Ticaret AS, a related party, until October 31, 2020 of which USD 5.5 million and EUR 2.5 million had been overdue and a further USD 5.2 million and EUR 2.7 million would have fallen due for payment before October 31, 2020.