Stratech Systems Ltd. (SGX:S73) announced that it has entered into a term sheet for private placement of 1% redeemable structured convertible notes due 2019 for gross proceeds of SGD 50,000,000 on May 30, 2016. The transaction will include participation from Advance Opportunities Fund I, a fund managed by Advance Capital Partners Asset Management Pte Ltd. The transaction is subject to signing of agreement. The transaction will be completed in four tranches including first tranche of SGD 500,000 comprising of 20 equal sub-tranches, second tranche of SGD 10,000,000 comprising of 10 equal sub-tranches of SGD 1,000,000 each, the third tranche will be SGD 15,000,000 comprising 15 equal sub-tranches of SGD 1,000,000 each, and the fourth tranche will be SGD 15,000,000 comprising 15 equal sub-tranches of SGD 1,000,000 each. The company shall be liable to a cancellation fee of SGD 50,000 in the event that the company decides not to proceed with the transaction after the execution of the term sheet.