Fura Gems Inc. the issuance of a grid promissory note (the “Note”) to a private company (the “Lender”), pursuant to which the Lender has agreed to immediately lend and the Company has agreed to borrow USD 21,000,000 (the “Initial Advance”). An additional USD 7,600,000 remains available for drawdown by the Company at a later date, subject to the terms of the Note (the “Second Advance”), for a maximum aggregate principal amount of USD 28,600,000. The funds advanced under the Note are initially unsecured, will bear interest at a rate of 10% per annum and have a maturity date of August 31, 2021. The principal amount of the loan as well as accrued interest will be payable on the maturity date. Under the terms of the Note, if any amounts payable by the Company to the Lender (the “Obligations”) remain outstanding on May 31, 2020, at the request of the Lender, the Company agrees to grant a security interest to the Lender in all of its present and future property (the “Security Interest”). If the Security Interest is not granted to the Lender and the Obligations are not paid in full on or prior to the date that falls six months from the date that the funds are advanced (the “Security Date”), the Company is required to pay an extension fee of USD 800,000, which shall form part of the Obligations payable on the maturity date, and the Lender shall extend the Security Date to the date that is 12 months from the date that the funds are advanced (the “Extended Security Date”). If the Security Interest is not granted to the Lender and the Obligations are not paid in full on or prior to the Extended Security Date, the Company is required to pay an additional extension fee of USD 800,000, which shall form part of the Obligations payable on the maturity date, and the Lender shall extend the Extended Security Date to the maturity date.