Melior Resources Inc. announced that it has signed and closed an amendment to the loan agreement entered into between Melior and Pala Investments Limited (Pala) dated August 9, 2018 as amended on November 16, 2018, February 4, 2019 and June 6, 2019, to, among other things, increase the principal amount of the loan facility by USD 2,000,000 to approximately USD 23,000,000. The Fourth Amendment Tranche Amount is comprised of two instalments of USD 1,000,000 each, with Melior having drawn upon the first instalment as of the date hereof and having the option to draw upon the second instalment at a later date provided certain conditions are satisfied including obtaining the written consent of Pala. Each instalment of the Fourth Amendment Tranche Amount is subject to an original issue discount of 7% of the amount of the loan (the OID) and an arrangement fee of 3% of the amount of the loan, which may, at Melior’s option, be added to the principal balance of loan. Melior added the OID and Arrangement Fee payable in respect of the first instalment of the Fourth Amendment Tranche Amount to the principal balance of the loan. In addition, Melior is responsible for the payment of all reasonable expenses and costs incurred by Pala in connection with the Fourth Amendment Agreement. No portion of the Fourth Amendment Tranche Amount or any interest thereon is convertible into common shares of Melior. Each instalment of the Fourth Amendment Tranche Amount and accrued and unpaid interest thereon is payable on the date that is two months from the applicable advance date. The material terms of the Fourth Amended Agreement will otherwise remain the same as the Third Amended Agreement.