Fura Gems Inc. (TSXV:FURA) announced a private placement of non-convertible promissory note to a private investor for a gross proceed of a maximum aggregate principal amount of $28,600,000 on March 10, 2020. The note are initially unsecured, will bear interest at a rate of 10% per annum and will mature on August 31, 2021. If any amounts payable by the company to the lender, remain outstanding on May 31, 2020, at the request of the lender, the company agrees to grant a security interest to the Lender in all of its present and future property. If the security interest is not granted to the lender and the obligations are not paid in full on or prior to the extended security date, the company is required to pay an additional extension fee of $800,000, which shall form part of the obligations payable on the maturity date, and the lender shall extend the extended security date to the maturity date. The transaction will be raised in two tranche, first tranche of $21,000,000 and the second tranche of $7,600,000. On the same day the company has received $21,000,000 in its first tranche.