BlackGold Natural Resources Limited (Catalist:41H) announced that it has signed a non-binding memorandum of understanding to issue convertible bonds for gross proceeds of SGD 20,000,000 with an international financial institution on November 30, 2017. The transaction is expected to close on February 23, 2018. The bonds will be convertible into common shares at a conversion price of the volume weighted average price at date of the definitive agreement to be entered into by the parties in respect of the transaction and 50% of the last 30 trading days volume weighted average price before the date of such definitive agreement. The bonds will have a 36-month maturity period from the drawdown date.