Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX: SBR) announces that effective 01 January 2022, it has amended its existing loan agreement (the “Loan Agreement”) between the Company’s wholly-owned subsidiary, Joint Stock Company Prognoz, and SKA Assets Management Limited (“SKA Assets”) with respect to a loan in the principal amount of 750,000,000 rubles (equivalent to approximately C$12,825,000 based on a foreign exchange rate of 0.0171) by extending the maturity date of the loan from 31 December 2021 to 31 December 2022 and increasing the interest rate of the loan from 8.27% per annum to 10.27% per annum effective from 01 January 2022 (“SKA Loan Amendment”). All other provisions of the Loan Agreement will remain unchanged.
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