UrtheCast Corp. announced that its wholly-owned subsidiary, 1185781 B.C. Ltd. has entered into a term loan (the "Term Loan") for up to USD 1,000,000 with 1262743 B.C. Ltd. (the "Lender"). The Lender has advanced USD 500,000 under the Term Loan and may, upon written request of the Borrower, advance up to an additional USD 500,000 at any time before the Term Loan matures. The Term Loan: (i) accrues interest at a rate of 18% per annum; (ii) has a maturity date of November 30, 2020; and (iii) is secured by all of the assets owned by the Borrower. In consideration for the Loan, the Borrower has agreed to pay the Lender a set-up fee of 3% of the principal amount advanced under the Loan. The Loan is be secured by a first priority security interest in the assets of the Borrower. The proceeds from the Loan will be used for working capital and general corporate purposes and to allow the Company to seek additional sources of financing. If UrtheCast is unsuccessful in obtaining additional financing, the Company may be required to consider other alternatives, including initiating a recapitalization or restructuring of the Company. There can be no assurance that the Company will be successful in obtaining additional funding or, if such funding cannot be obtained, completing a recapitalization or restructuring.