Heron Resources Limited (ASX:HRR) announced a private placement of senior debt facilities of gross proceeds of AUD 3,500,000 on August 14, 2020. The transaction will include participation from a fund managed by returning investor Castlelake, L.P. The loan will have an variable interest rate of 15% per annum maturing on the earlier of 12 months after execution of the deal. The company will receive the funding in single tranche. The transaction has been approved by the board of director of the company. The transaction has been negotiated and approved by the creditors of the company.