Batero Gold Provides Update on Unsecured Related Party Loan

Core Viewpoint - Batero Gold Corp. has entered into an unsecured loan agreement with Antioquia Gold Ltd. for the Batero-Quinchia Gold Project, with an increase in loan value and extension of the loan term announced in 2024 [1][3]. Loan Agreement Details - The Original Loan Agreement was for COP$2,400,000,000 (approximately CAD$720,000) with a term of 15 months, starting from the first disbursement on October 20, 2022, and an interest rate of IBR1 + 7.5% per annum (16.75% per annum) [2]. - The Amended Loan Agreement increased the total loan value to COP$4,800,000,000 (CAD$1,627,200) and extended the term until December 20, 2025 [3]. - As of the current date, the total principal advanced under the loan is CAD$1,406,656, with total interest owed amounting to CAD$354,714 [3]. Use of Funds - Disbursements from the loan have been utilized for general working capital, corporate overhead, and to support operational requirements in Colombia [3]. Related Party Transactions - Minera and Antioquia are considered related parties due to a common controlling shareholder, making the loan agreements related party transactions under MI 61-101 [5]. - The company is exempt from formal valuation requirements under MI 61-101 as its shares are listed on the TSXV, and it relied on exemptions from minority shareholder approval requirements for both the Original and Amended Loan Agreements [6]. Company Overview - Batero Gold Corp. is focused on precious and base metals exploration, with the objective of developing the La Cumbre Gold Project located within the Batero-Quinchia Gold Project in Colombia's Mid Cauca gold and copper belt [7].