Newtopia Inc. announced it has entered into an agreement with a Canadian Schedule I Bank amending a commitment letter between the Company and the Lender dated October 2, 2020. The Amended Commitment Letter provides for an increased revolving credit facility of $7.5 million, up from the $5.0 million in funding secured previously. This new credit facility, along with the $2.5 million private placement offering, doubles the amount of growth capital available to the Company for working capital and general corporate purposes. The terms of the new Enhanced Facility are materially unchanged from the Original Commitment Letter. The Enhanced Facility is subject to approval of a 50% guarantee by Export Development Canada through the Export Guarantee Program which the Company anticipates in the coming weeks. The facility advanced pursuant to the Original Commitment Letter was subject to a 50% guarantee previously approved by EDC through the EGP. The Enhanced Facility will continue to be secured by a first ranking security interest over all of the present and future property of Newtopia.