Mr. Diego Benavides reports
MINERA IRL ANNOUNCES FIRST AMENDMENT OF THE MEMORANDUM OF UNDERSTANDING WITH CORPORACION FINANCIERA DE DESARROLLO S.A.
Minera IRL Ltd. signed, on June 30, 2020, the first amendment to the memorandum of understanding with Corporacion Financiera de Desarrollo SA. In this way, both parties agreed to ratify the validity and effectiveness of the conversations held, during the period of national emergency established by the Peruvian state, regarding the proposals and/or alternatives proposed by both and agreed to extend the validity of the memorandum of understanding for an additional 90-calendar-day term counted from the signing of said amendment, considering any additional delays corresponding to the national emergency caused by COVID-19.
Said period will be used to reach a transaction between both parties with respect to the obligations indicated in the arbitration award and the bridge loan agreement.
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