AFT Corporation Limited (ASX:AFT) announced that it has entered into memorandum of understanding for a private placement of convertible notes for gross proceeds of AUD 2,100,000 on April 23, 2018. The transaction will included participation from NESI Solar Australia Pty Ltd. The transaction will completed two tranche of AUD 700,000 and AUD 1,400,000 respectively. The company will issue 700,000,000 shares at price AUD 0.001 per share for proceeds of AUD 700,000 upon conversion of first tranche and 1,400,000,000 shares at price for grossed proceeds of AUD 1,400,000 upon conversion of second tranche.