Pershing Resources Company, Inc. (OTCPK:PSGR) announced a private placement of convertible notes for gross proceeds of CAD 400,000 on February 19, 2021. The transaction included participation from current security-holders and management of the company. The notes have a term of 160 days with interest thereon accruing at the rate of 3% per annum. The notes are convertible into common shares at a conversion price of CAD 0.025 per share and if converted, would result in the issuance of 16,000,000 restricted common shares of the company.