Nautilus Minerals Inc. announced that the company has received a loan from Deep Sea Mining Finance Ltd. in the principal amount of USD 770,000 under the previously announced loan agreement between the company, two of its subsidiaries and the Lender which provides for a secured structured credit facility of up to USD 34 million. Pursuant to the Loan Agreement, the Company has issued to the Lender an additional 3,307,560 warrants of the Company in connection with the USD 770,000 loan. Each such warrant entitles the Lender to purchase one common share of the Company at a price of CAD 0.17 for a period of five years from the date of issuance of the warrant. To date the Company has issued a total of 68,492,264 share purchase warrants to the Lender in connection with loans totaling USD 15,945,000. Pursuant to the Loan Agreement, share purchase warrants are issued on the basis of one warrant for each USD 0.2328 of principal amount of loan advanced. The Company may draw loans under the Loan Agreement on a monthly basis, which shall bear interest at 8% per annum, payable bi-annually in arrears. Advances of loans are subject to, among other things, the Lender's ongoing review and approval of the Company's monthly operational budget. All loans have a maturity date of January 8, 2019. The Company will be entitled to pre-pay, in whole but not in part, the loans at any time prior to maturity, by paying 108% of the outstanding principal of the loans plus accrued and unpaid interest. The loans are being provided to fund the Company's working capital requirements and enable the Company to continue the advancement of the Solwara 1 Project while the Company seeks, with the assistance of its financial advisors, the remaining project financing of up to approximately USD 350 million required to complete the development of the Solwara 1 Project. The Company did not file a material change report more than 21 days before the expected closing of this transaction, as the details of the transaction were not finalized until immediately prior to the closing and the Company wished to close the transaction as soon as practicable for sound business reasons. The issuance by the Company of the maximum number of warrants under the Loan Agreement, and the CAD 0.17 exercise price of such warrants, received the requisite disinterested shareholder approvals at the Company's annual general meeting held on June 25, 2018 as required by the Toronto Stock Exchange.