SEMAFO Inc. has entered into an amendment agreement (the "Amendment Agreement") with Macquarie Bank Limited ("Macquarie") that updates the original credit agreement (the "Original Agreement"). The Original Agreement remains in force, and the Amendment Agreement provides two main updates. The first update relates to an event of default provision. The Original Agreement provided that an event of default occurred when, among other things, operations at Boungou remained suspended for a period of 30 days or more. The second update relates to the reserve account, recorded as restricted cash, in which $15 million is held until the loan reaches $30 million. Under the Amendment Agreement, this restricted cash of $15 million will be applied against the principal payment on December 31, 2019. The reserve account and restricted cash will therefore be nil at December 31, 2019, and SEMAFO will be required to replenish the reserve account back to $15 million by March 31, 2020, in addition to making the regular principal payment of $15 million due March 31, 2020.