Blockchain Group Company Limited (SEHK:364) announced that it has entered into a non-legally-binding memorandum of understanding with Hong Ren Yi Wu Technology Group Limited for the private placement of 100%, 2-year, 4% coupon convertible bonds for gross proceeds of HKD 23,300,000 on September 10, 2018. The bonds carry fixed interest rate of 4% and a fixed conversion price of HKD 0.10 per share subject to adjustments as set out in the instrument constituting the convertible bonds. The transaction is subject to the execution of a legally binding agreement on or before December 9, 2018.