Regency Mines Plc (AIM:RGM) announced a private placement of convertible notes for gross proceeds of £1,776,000 on January 14, 2019. The transaction will include participation from institutional and high net worth investors. The notes carry a fixed coupon of 12.5% per annum. The notes will be convertible into common shares of the company at a price of £0.42 pence per share. The company will also issue 119,047 warrants. Each warrant entitles the holder to subscribe for one share at any time up to May 31, 2021 at a price of £0.006 per share. On the same date, the company announced that it has received £676,000 in the first tranche of the transaction.