Memex Inc. announced that it has finalized loan facility extension arrangements with affiliates of G&G Private Capital ("G&G") and Officers of Memex, on the remaining $600,000 balance from the March 2019. Previously scheduled to mature on March 28, 2022, these arrangements extend the original maturity date by one year to March 28, 2023, with the other terms (announced March 28, 2019) remaining unchanged. In connection with the extension of the maturity date to March 28,2023, the Company agreed to pay to the Lenders a refinancing fee of 1.5% of the remaining balance, as well as issue them an aggregate of 1.8 million Common Shares (G&G ­ 1.68 million, Officers of Memex ­ 120 thousand) at a deemed price of $0.025 per share, and 750 thousand non-transferable share purchase warrants (the "Warrants") (G&G ­ 700 thousand, Officers of Memex ­ 50 thousand) at a subscription price of $0.05 and expiring concurrently with the maturity date of the extended loan facility. As part of the new arrangements the 3.75 million warrants initially issued to the Lenders as part of the initial financing arrangement were cancelled.