GI Dynamics, Inc. (ASX:GID) announced a best efforts basis private placement of unsecured convertible promissory note for $750,000 on June 18, 2020. The transaction included participation from returning investor Crystal Amber Fund Limited (AIM:CRS), a fund managed by Crystal Amber Asset Management (Guernsey) Limited. The note bears an interest of 5% per annum compounded annually. The note will automatically convert into shares of common shares. The note is not transferable or assignable within 12 months after it issuance. The securities issued to the investor under Section 4(a)(2) of the Securities Act of 1933, as amended.