Tamerlane Ventures, Inc. announced that it has executed an amendment to the Forbearance Agreement regarding the Company's USD 10 million senior secured bridge loans with its lender and shareholder, Global Resource Fund which is managed by Renvest Mercantile Bancorp Inc. Through the amending agreement the lender has agreed, among other things, not to take action unless a new Event of Default occurs and to capitalize the May interest payment. The loans are scheduled for repayment on October 16, 2013, but if certain conditions are satisfied, the maturity date of the loans will be extended to August 31, 2014. As consideration for, among other things, Global's forbearance, the company has agreed to, among other things, pay Global a fee of USD 350,000 which will be capitalized and added to the face value of the loans.

such that the amount of the loans due at maturity has been increased to USD 11,993,463.15. Regularly scheduled interest must be paid monthly in cash beginning with the June 2013 payment. Interest on the loans will remain at 12.5% per annum.