The board of directors of MMP Resources Limited announced that the company has on January 20, 2021, entered into a loan agreement with Solar Founders Limited in connection with the grant of a loan of SGD 348,000 to the company. The company's entry into the loan agreement is beneficial to the company and will help finance the group's working capital and current operations. The Loan shall bear interest at 18% per annum and can be paid in kind or in cash. The Loan and all accrued interests are payable on demand. However, if the company has not received any written notice from the lender for repayment of the loan and all accrued interests by the first anniversary of the advance date, the company is entitled to repay the loan and all accrued interests, in full or part thereof, on the first anniversary of the advance date by providing written notice to the lender. The Loan and any accrued interests may be repaid by the company either in cash, or by way of the issuance and allotment of such number of shares in the company, at a 10% discount to the average closing price of shares in the company for the two trading days prior to the date of borrower's payment notice or the lender's payment notice.