W Resources Plc also finalized a six month extension to the €5m loan facility with the Spanish bank, Santander. As the initial term of the loan was the earlier of 18 February 2021 or the receipt of the proceeds of the Grant funds, the Company thought it prudent to seek this extension. This facility allowed W to monetize the majority of the €5.3m Grant from the Junta de Extremadura Government which the Company had expected to receive in 2020. The facility interest rate is 3.5% per annum, payable quarterly, with no amortization and is secured by a pledge over the rights to the Grant funds.