Zoltav Resources Inc. announced on 14 July 2020 that it had entered into a loan agreement with ARA Capital Holdings under which ARA Capital Holdings provided a revolving loan facility for up to USD 9,000,000. As announced on 29 December 2020, the final repayment date was extended to 31 March 2021 (unless otherwise extended or converted into equity by mutual agreement). The Company currently has insufficient amounts of cash, other sources of liquidity or alternative sources of finance to repay the Loan and, as a result, ARA Capital Holdings has agreed to extend the repayment date to 30 September 2021 and increase the Loan facility up to a maximum principal amount of USD 19,000,000. The Loan Extension has been granted so as to enable the Company and ARA Capital Holdings additional time to determine the options available in respect of the settlement of the Loan which may include the conversion of the Loan into equity.