Freshlocal Solutions Inc. announced that it has entered into a secured $8.8 million credit facility agreement with Export Development Canada dated December 28, 2021 to support Freshlocal's international expansion efforts related to its FoodX SaaS-based eGrocery Management Solution (eGMS). The EDC Facility enables requests by the Company for periodic advances to be made for a period of six (6) months, subject to the satisfaction of certain customary conditions, and the EDC Facility has a maturity date 48 months from the date of the first advance (the "Maturity Date"). Principal repayment will consist of 36 equal, consecutive, monthly installments commencing on the tenth (10th) day of the thirteenth (13th) month following twelve (12) months of interest only payments; to be followed by a lump sum payment to repay the outstanding loan in full at the Maturity Date. The EDC Facility's interest rate is variable with a 5.85% margin above prime per annum on drawn amounts and has no prepayment penalty or standby charge. The EDC Facility is intended to allow Freshlocal to meet a key milestone under the terms of the forbearance agreement with SVB, which requires the Company to obtain a net cash advance from a new credit facility of at least $3,500,000 on or before January 15, 2022.