Avesoro Resources Inc. announced that it has received approval of a revised term sheet from the credit committees of Nedbank Limited and FirstRand Bank Limited. Highlights includes: rescheduled repayment structure agreed with no further capital repayments due until March 31, 2018, allowing the company to generate a prudent level of cash reserves before repayments commence, with the repayments scheduled to reflect the current life of mine production profile of the New Liberty Gold Mine; senior facility loan tenor extended by two years until January 31, 2022, whilst the tenor on the subordinated facility has been extended to the earlier of 12 months following the repayment of the senior facility or January 31, 2023; the senior facility interest rate remains at USD London Interbank Offered Rate plus 1.8% until 2020, following which it will increase to LIBOR plus 4.3% and the subordinated facility interest rate remains the same at LIBOR plus 7.5%; and removal of the cash sweep mechanism that obliged the Company to use surplus cash generated by New Liberty to accelerate loan repayments, thereby allowing and reducing the Company's administrative burden and monitoring costs associated with the facilities.