Axiom Mining Limited (ASX:AVQ) announced a private placement of 731,600 convertible notes at a price of AUD 1.3669 for gross proceeds AUD 1,000,000 on December 10, 2018. The notes have a face value of AUD 1.5036 and maturity of 12 months from the date of issue. Each note shall be convertible at the investor’s sole option into fully paid ordinary shares at an issue price per share equal to the lower of a floor price of AUD 0.18 cents or a 10% discount from the lowest volume weighted average price over two days in a five days prior to the conversion date; the estimated common shares upon conversion 12,626,990 shares.