EHR Resources Limited announced a private placement of convertible notes for gross proceeds of AUD 35 million on July 26, 2021. The company will issue notes to several sophisticated and high net worth investors. The notes are having a face value of AUD 1 per share, with a 3-year term to maturity and a 6% coupon rate. The notes are unsecured and will convert at a 10% premium to the price of the Share Placement at the election of the holders. The notes are redeemable in the event they are not converted to equity by the maturity date. The convertible notes are subjected to approval of shareholders in its shareholders meeting to be held on September 15, 2021. The transaction is expected to close on August 2, 2021.