RMG Limited (ASX:RMG) announced a private placement of 200,000 convertible notes at a price of AUD 1.3907 per note for gross proceeds of AUD 278,140 on January 31, 2019. The transaction included participation from sophisticated and overseas investors. The notes carry fixed interest rate of 10% per annum. The unsecured notes has the redemption date of July 30, 2019. The notes are convertible into common shares at AUD 0.005 per share.