Orinoco Gold Limited (ASX:OGX) announced a private placement of 49,274,078 common shares at a price of AUD .0135 per share for proceeds of AUD 1,185,200 and short term convertible loan for proceeds of AUD 520,000 on November 19, 2018. The transaction included participation from directors for loan. The loan bears interest rate of 10% per annum. The company also issued 49,274,078 options to purchase common shares of the company at an exercise price of AUD 0.03 per share for a period expiring on September 21, 2021. The convertibility of loan is subject to shareholder's approval.