Mercurius Capital Investment Limited (Catalist:5RF) announced that it has entered into a convertible loan agreement for a private placement of redeemable convertible loan for gross proceeds of SGD 800,000 on January 3, 2020. The transaction will include participation from Cheah Bee Lin. The loan is unconditional and unsecured. The loan is convertible into up to 11,000,000 new Shares to be allotted and issued by the company to the investor upon conversion at a fixed conversion price of SGD 0.10 per share. and represents a premium of approximately 108.3% over the volume weighted average price of SGD 0.0480 for each share of the company for trades done on the SGX-ST for the full market day on January 2, 2020, being the last full market day immediately preceding the date of the agreement. The company will issue loan at par. The loan carries fixed interest rate of 10% per annum. The loan carries maturity date of a day falling after 12 months from the date of completion. The company may terminate the agreement by 30 days written termination notice to the investor or by mutual agreement between the parties. The completion of the transaction is subject to fulfillment of precedent conditions including board of directors’ approval, shareholders’ approval, and Singapore Exchange Securities Trading Limited approval. The company will pay fees and expenses of SGD 12,000 and will receive net proceeds of SGD 788,000 in the transaction. The company expects to close the transaction not later than three business days after precedent conditions are fulfilled.