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, in a total of two tranches, with Avesoro Jersey Limited ("AJL") to assist with satisfying the Company's near term cashflow needs. The Company intends to draw down a first tranche of USD 3,500,000 in the coming days, with the funds being made available for general working capital purposes. The second tranche of up to USD 1,500,000 is drawable until December 31, 2019, at the mutual agreement of both parties. The New Facility is unsecured and is subordinated to the Company's existing facilities. Interest will be charged on the drawn amount at a fixed rate of 3.0% per annum. The tranches of the New Facility are due to be repaid in full no later than 12 months following drawdown of the relevant tranche. There is no early repayment penalty. Following drawdown of the first tranche, the balance of working capital loans provided by AJL to the Company is USD 45,735,025.