Mine Restoration Investments Limited (JSE:MRI) announced a private placement for gross proceeds of ZAR 1,037,496 on March 8, 2013. The company will receive convertible loan from existing investor Watermark Global Plc. The convertible loan will convert into shares of the company till December 15, 2013.

The loan may be converted into shares of the company at a conversion price equal to the weighted average traded price of the company's shares measured over the 30 business days prior to the date on which the investor elects to effect the conversion.