 MONTREAL , July 9, 2020 CNW Telbec - Birks Group Inc. the Company or Birks NYSE American LLC: BGI, announced the closing of a CAD10 million subordinated secured term loan with Investissement Québec IQ on July 8, 2020 . This new term loan will be used to support the working capital needs of the Company following the impacts of COVID-19 and increases the Companys borrowing capacity, allowing it to continue the relaunch of its operations, including the full re-opening of its store network throughout Canada , and omni-channel value-creation initiatives in a COVID-19 environment. The new term loan, which matures in July 2024 , is subordinated to the Companys existing senior secured revolver facility with Wells Fargo Capital Finance Corporation Canada Wells Fargo and Crystal Financial LLC Crystal. 