GCM Resources plc announced that it has entered into a Relationship Agreement with Polo Resources Limited ("Polo") (the "Agreement"). Polo is currently a private limited company and owns 28.3% of the Company's issued share capital. The purpose of the Relationship Agreement is to ensure that the Company is capable of carrying on, at all times, its business independently of Polo.

The Relationship Agreement has a minimum term of one year from the execution date, and thereafter will terminate if the ordinary shares of the Company cease to be admitted to trading on AIM or Polo ceases to retain an aggregate interest of 25% or more of the issued ordinary share capital of the Company. The Company confirms in relation to the Loan Facility with Polo announced on 3 February 2020, it has drawn down a further £250,000 in accordance with the terms announced thereon. The Company has utilised currently £3.2million of the £3.5million facility.

This current drawdown along with existing cash balances will be sufficient to fund the Company for a further 3 months.