Samco Gold Limited (TSXV:SGA) announced that it has entered into a six-month convertible loan facility with Charles Koppel, Chief Executive Officer of the company for gross proceeds of up to $450,000 on March 22, 2019. The company will receive funding in minimum tranches of $10,000 until September 30, 2019. The loan will bear fixed interest at a rate of 12% per annum, payable in cash or, at the option of the lender, in common shares of the company at a price equal to the five-day volume-weighted average trading price for the common Shares on the TSX Venture Exchange for the five-trading day period ending on the trading day prior to the day the interest share election is made. The principal amount of the loan is convertible into common shares of the company at a fixed conversion price of $0.03741 per share of the company. The transaction is subject to the TSX Venture Exchange approval, and is expected to close within 21 days from the date of the material change report that will be filed in connection with the transaction.