Mithril Resources Ltd. (ASX:MTH) announced a private placement of 2nd series of unregistered unguaranteed and unsecured private convertible bonds for gross proceeds of KRW 3,000,000,000 on November 12, 2018. The transaction will include participation from existing investor MiraeING.Co.,Ltd. (KOSE:A007120). The bonds will be issued at its par value.

The bonds will carry any interest 2% per annum and yield to maturity of 2%. The bonds will mature on November 12, 2021. The bonds are fully convertible into 3,181,336 shares of the company at a fixed conversion price of KRW 943 per share between November 12, 2019 and October 11, 2021.

The conversion shares represent 7.93% stake in the company. The transaction has been approved by the board of directors of the company.