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 $400,000 on July 11, 2018. Returning investors, Oriental Darius Co. Ltd and Australian Special Opportunity Fund, LP, a fund managed by The Lind Partners, LLC each will subscribe notes for $200,000. The notes will have a par value of $480,000 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.