BBTV Holdings Inc. has entered into an agreement with MEP amending the MEP Loan. Pursuant to the amendment, the Company will pay MEP USD 6,000,000 on closing of the New Loan, of which USD 600,000 has already been paid. From and after such closing, the principal amount remaining under the MEP Loan will continue to accrue at 16.8% per annum.

The MEP Loan will mature on July 1, 2024 and may be pre-paid at any time. A payment of USD 500,000 will be due on April 1, 2024. A 4% exit fee shall be applied on the remaining principal balance of the MEP Loan outstanding on payout of such loan.

MEP's warrants will be amended to allow MEP to purchase up to 3%, instead of the 2% currently in place, of the amalgamated company's fully diluted Subordinate Voting Shares as of a certain specified date. The SPV Participants will be providing partial personal guarantees for the MEP Loan as well as for the debt facilities under the Commitment Letter.