Xiana Mining Inc. (TSXV:XIA) announced a private placement of secured convertible loan facility for gross proceeds of $7,000,000 on October 24, 2018. Bluequest Sourcing AG will advance in the principal amount of up to $9,000,000, representing up to $7,000,000 cash plus capitalized interest. The loan can be drawn as $2,850,000 concurrent with the closing, used solely to satisfy the amount due in respect of Minera Altos De Punitaqui’s acquisition and required payments; up to $1,650,000, drawn within 5 days of closing of the acquisition, used to satisfy transaction costs and working capital and $2,500,000 on the 11 months anniversary of the closing, used to satisfy the first deferred consideration. The loan, including capitalized interest, will be convertible, at the election of Bluequest, into units of the company at a conversion price of CAD 0.43 per loan unit. Each loan unit will be comprised of one common share and one common share purchase warrant. Each underlying warrant will be exercisable to purchase one common share at a price of CAD 0.65 per common share for a period of five years from the date of agreement. The loan shall be repayable on the date that is 24 months from the closing. The loan will carry an interest rate of USD 3-month LIBOR + 11.5% per annum, subject to a floor of 13.0%, where 3-month LIBOR shall be fixed on the first day of each calendar quarter, with interest payable quarterly. The interest on the loan will be payable in cash or in common Shares, subject to TSXV approval, or at the election of Bluequest such interest may be capitalized to the outstanding loan balance. The loan will be secured by a pledge over the shares of Xiana Chile SPA, the shares of Minera Altos De Punitaqui, the intercompany loans held by Xiana's subsidiaries and substantially all of Minera Altos De Punitaqui’s assets.