Endomines AB's subsidiary Endomines Finland Plc has entered into a financing package with a group of Finnish investors including a new loan for an aggregated amount of EUR 3.0 million. The new funding is used to repay the USD 2.0 million interest-bearing liability which is due in September 2022 and to invest in the exploration activities at Karelian Gold Line. Endomines has also agreed to prolong the maturity date by one year for EUR 7.1 million of 2021 organised convertible loan to be on 2024 instead of previous 2023.

The Financing Agreement has a maturity of 24 months and 10 % p.a. interest as well as arrangement fee of 5 % on the new financing part. According to the Financing Agreement, Endomines Finland undertakes to resolve on a right for the lenders to mainly convert the loans, partly or in full, to shares in Endomines 6 months after drawdown of the loan with the subscription price of average rate of stock price during September 15th - December 31st 2022 or EUR 0.20 per share. According to the Financing Agreement, security will be provided for the loans.