Water Resources Group Limited (ASX:WRG) announced a private placement of convertible notes and options for gross proceeds of AUD 200,000 on January 22, 2013. The company will issue 7 convertible notes, convertible upon election to 10,000,000 ordinary shares with 60 days repayment or note holders option to convert at any time up to maturity at a conversion price of AUD 0.02 per share. As part of the transaction, the company will issue 10,000,000 unlisted options exercisable at AUD 0.035 per share until January 22, 2016.

On January 22, 2013, Water Resources Group Limited closed the transaction.