Pershing Resources Company, Inc. (OTCPK:PSGR) announced a private placement of convertible notes for gross proceeds of CAD 510,000 on September 30, 2020. The transaction included participation from the company's board of directors and current security holders. The notes have a term of 120 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 0.01 per share and if converted, would result in the issuance of 51,000,000 restricted shares.