SIGMA Lithium Resources Corporation announced that it received a binding commitment for a CAD 18,750,000 (BRL 75,000,000) credit line (“Development Credit Line”) from the Development Bank of the State of Minas Gerais (the “BDMG”), the state where Sigma’s Grota do Cirilo project (the “Project”) is located, in the Jequitinhonha Valley. The closing of the Development Credit Line is subject to the negotiation of definitive documentation and other customary closing conditions, followed by final credit approval for draw-drowns. The Company is also announcing its financial and operating results for the three and nine months ended September 30, 2020 and providing a detailed progress update on the pre-construction activities of the Project. The Development Credit Line was awarded on December 2, 2020 of up to CAD 18,750,000 (BRL 75,000,000) has an eight-year term, a three-year grace period and a floating annual interest rate indexed to SELIC (Brazilian Central Bank Federal Funds Rate, equivalent to 2%, as of the date of this news release), plus a credit spread, in line with the regulated table practiced by development banking institutions in Brazil. The proceeds will strengthen the Project’s financing and capital structure by lowering its cost of debt and lengthening its debt duration (maturity).