Leaf Resources Limited (ASX:LER) announced a private placement for 5,250,000 shares at an issue price of AUD 0.02 per share for gross proceeds of AUD 105,000 and for loan of AUD 75,000, aggregate gross proceeds of AUD 180,000 on February 28, 2020. The transaction will include participation from sophisticated, professional and other investors and AUD 75,000 loan will be provided by chairman Doug Rathbone. The loan is immediately convertible into 3,750,000 common shares at an issue price of AUD 0.02 per share. The transaction is expected to close on March 6, 2020. The transaction is subject to shareholder approval.