NGEx Resources Inc. announced that it has entered into a new $10,000,000 credit facility from Zebra Holdings and Investments S.à.r.l. a company controlled by a trust settled by the late Adolf H. Lundin, an insider of the Company.

The Facility is evidenced by a debenture which is unsecured and has a term of 18 months ending December 12, 2020. No interest is payable during the term of the Debenture, however, any amount of the Facility remaining unpaid and outstanding on or after the Maturity Date shall bear interest at a rate of 5.00% per annum until repaid in full.

Proceeds from the Facility will be used to provide additional financial flexibility to fund the Company's ongoing work programs and provide general working capital.

The terms of the Facility include the Company issuing to the Lender, subject to approval of the Toronto Stock Exchange (the "TSX"), an aggregate of 28,000 common shares of NGEx (the "Common Shares") and an additional 500 Common Shares per month for each US$50,000 of the Facility outstanding from time to time up to the Maturity Date.  All securities issued in conjunction with the Facility will be subject to a four-month hold period under applicable securities law.

The Facility supplements an existing credit facility provided by the Lender, which is evidenced by a US$5,000,000 debenture dated as of October 5, 2018 , which matures on October 5, 2019 .