Resources Prima Group Limited (Catalist:5MM) announced that it has signed an investment agreement with Perman Yadi for gross proceeds of $2,000,000 on March 31, 2019. The investor will provide convertible loan to the company. Interest shall only accrue from the drawdown of each tranches of the loan at 10% per annum if the convertible loan is not approved by the company’s shareholders for conversion to equity. The loan is secured and not redeemable unless the company fails to submit the resumption of trading proposal within September 30, 2019 of the date of drawdown of the convertible loan or such other date to be agreed. The loan is convertible into 2,705,000,000 common shares at a conversion price of $0.00074 per share. The conversion shares represent approximately 147.6% of the existing issued and paid-up share capital of the company as at the date of this announcement and approximately 59.6% of the enlarged issued and paid-up share capital of the company after the issue of the conversion shares. The transaction will be completed in multiple tranches. The transaction is subject to shareholder approval at the general meeting to be held on December 31, 2019 and the approval of the directors. The transaction will also be subject to regulatory approval subject to events of default customary for such transactions of this nature. On the same date the company received a tranche of $500,000 in its first tranche, which shall be advanced to PT Prima in order to secure the PT Prima JOA for the company. The company shall acknowledge the same has been drawn down and paid to PT Prima.