Herencia Resources plc. (AIM:HER) announced that it has entered into a legally binding term sheet for a private placement of secured convertible loan notes for gross proceeds of $300,000 on February 26, 2019. The transaction will involve participation from returning investors, Oriental Darius Co. Ltd and Australian Special Opportunity Fund, LP, a fund managed by The Lind Partners, LLC where each investor will subscribe notes for $150,000. The notes will issue at discount of 16.666667% on principle amount of $360,000 and will mature in 24 months of the agreement. The notes will be convertible into common shares of the company at a variable conversion price which will be equal to next placement price. On July 30, 2019, WH Ireland Limited has resigned as nominated adviser and joint broker.