Rision Limited (ASX:RNL) announced a private placement of loan note for gross proceeds of AUD 750,000 on September 28, 2017. The transaction will include participation from investor, MEF I, L.P. The company will seek approval from shareholders to convert the loan note into convertible notes at the Annual General Meeting to be held in November this year. The loan notes are convertible into convertible notes by December 6, 2017 and at a fixed price of AUD 0.012 per note but if the average 20 day volume weighted average price is below AUD 0.01 at any point following the close of this transaction, the investor shall be able to convert at 15% discount to the lowest volume weighted average price in 5 days prior. In the event shareholder approval is not granted to issue the convertible notes, the outstanding amount under the loan note will become payable by the December 11, 2017.