Great Panther Mining Limited announced that it has entered into a USD 11.25 million gold doré prepayment agreement with Samsung C&T U.K. Ltd. In consideration of delivery and sale of approximately 3,000 ounces of gold contained in doré per month over a two-year period from its Tucano Gold Mine, Samsung has agreed to advance a USD 11.25 million prepayment to Great Panther. Gold deliveries will be sold at a 0.65% discount to the benchmark price of gold at the time of delivery and will be used to offset repayments of the Advance, which are scheduled to occur between 11 to 24 months after the date of the Advance. The Advance will bear interest at an annual rate of 3-month USD LIBOR plus 5% and is secured by a pledge of all equity interests in Great Panther's Brazilian subsidiary that owns the Tucano Gold Mine. Great Panther has a full option for early re-payment of the Advance, subject to a 3% penalty applied to the outstanding balance. The Agreement also provides Samsung a right of offer for concentrates produced from the Company's Coricancha Mine project in certain circumstances. The transaction is expected to close with the funding of the Advance by February 2020.