I-Minerals Inc. announced that it has negotiated an extension to the repayment date for certain loans advanced to the Company by BV Lending LLC. In addition to extending the due date of the loans advanced by the Lender to the Company, the Lender has agreed to increase the amounts advanceable under its October 25, 2019 loan agreement (as previously amended, the ?Sixth Promissory Note?) with the Company. As amended, the total amount advanceable by the Lender under the Sixth Promissory Note has increased by $500,000 from $2,725,000 to $3,225,000. The additional amounts advanceable may be advanced in 4 separate monthly tranches of up to $125,000 each. No ?bonus shares? are issuable in connection with the additional amounts advanceable under the Sixth Promissory Note. Currently, the total principal amount outstanding under all loans advanced by the Lender to the Company equals $34,153,578 together with all accrued and unpaid interest thereon. Interest payable is payable on each of the loans advanced to the Company by Lender at the rate of 0.13% per annum. Subject to the approval of the TSX Venture Exchange, interest under the loans advanced by the Lender may, at the election of the Lender, be payable in common shares of the Company at a deemed price equal to the greater of (i) the Discounted Market Price (as defined under the policies of the Exchange) and (ii) the volume weighted average trading price of the Company?s common shares over the 20 trading days prior to the date such interest becomes payable. To exercise its right to have interest payable in shares of the Company, the Lender must provide notice to the Company of its election within ten business days prior to the date such interest becomes due and payable. If the Lender does not elect to receive the interest in shares of the Company, the interest due is added to the principal outstanding under the loans.