Resources Prima Group Limited announced that it has signed an investment agreement with new individual investor Chaw Chong Foo for gross proceeds of SGD 1,350,000 on September 27, 2019. The investor will provide convertible loan to the company. The transaction will take place in equal tranches of SGD 100,000. The company will issue 1,350,000,000 common shares upon conversion of the loan at a conversion price of SGD 0.001 per share. Interest shall only accrue from the drawdown of each tranches of the loan at 18% per annum. The transaction is subject to shareholder’s and regulatory approval. Post closing and conversion, the investor will hold 15.7% stake in the company On November 6, 2019, the company announced its first drawdown notice for gross proceeds of SGD 230,000.