Ecometals Ltd. (TSXV:EC) announced a private placement of 120 units at a price of $1,000 per unit for gross proceeds of $120,000 on March 5, 2013. Each unit consists of one convertible unsecured debenture and 20,000 warrants. Each debenture is of $1,000 and convertible at the option of the holder at any time prior to the maturity date being one year from the date of issuance. Each warrant is exercisable at a price of $0.05 per share for a period of one year from the date of issuance.

On March 27, 2013, Ecometals Ltd. closed the transaction. The debentures will be convertible into 20,000 shares at the option of the holder at a conversion price of $0.05 per share up to March 27, 2014. The warrants issued as part of the transaction will also mature on March 27, 2014. The transaction will see participation from one placee. The securities issued are subject to a four month hold period in Canada.