Pershing Resources Company, Inc. (OTCPK:PSGR) announced a private placement of convertible notes for gross proceeds of CAD 200,000 on October 30, 2020. The transaction included participation from a current security holder of the company. The notes have a term of 180 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 0.02 per share and if converted, would result in the issuance of 10,000,000 restricted shares.