CIM International Group Inc. announced an update on its loan agreement and its settlement agreement with Kingspound Capital Inc. and another creditor and that it has entered into a settlement agreement with a holder of one of the Debentures issued in 2018 through TSX Trust Company. The company announced an update on its loan agreement with Kingspound Capital Inc. The agreement provided for a loan of up to aggregate amount of $900,000 bearing interest at a rate of 12% per annum calculated and payable monthly. The Company has now received advances aggregating all $900,000 of the Kingspound Loan and, with earned unpaid interest, the balance outstanding as at September 17, 2020 was $927,000. The Kingspound Loan is secured by a pledge of all of the issued and outstanding shares held by the Company in the capital of 10167614 Canada Inc., which holds 25% of the limited partner units in the capital of CIM HWY7 Holding LP, which in turn holds 55% of the issued and outstanding shares in the capital of CIMBERG DEVELOPMENTS INC., which in turn holds 50% of the limited partner units in the capital of 6910 HWY7 Limited Partnership, which is the beneficial owner of the development project located at 6910 and 6950 Highway 7, Markham, Ontario.