Beroni Group Limited (NSX:BTG) announced a private placement of 20,000 convertible notes at a price of $100 per note for gross proceeds of $2,000,000 on May 28, 2021. The transaction included participation from an investor in Japan. The notes are zero coupon notes with a maturity date of May 27, 2022 and are convertible into common shares at a conversion price of $10. The number of shares to be issued in respect of each convertible note will be calculated by dividing the face value of the notes by the conversion price. Some or all of the convertible notes can be converted at the election of the noteholder at any time prior to maturity. The notes are issued at par.