Ecometals Limited announced a private placement of up to 500 units at a price of $1,000 per unit for gross proceeds of $500,000 on September 5, 2014. Each unit comprises a convertible unsecured debenture in the principal amount of $1,000 and 20,000 common share purchase warrants. The debenture is convertible at the option of the holder at anytime up to and including the date of maturity, being the first anniversary of the issuance of the debenture for 20,000 common shares of the company. Each warrant entitles the holder to acquire one common share at a price of CAD 0.05 ($0.0459) per share until the first anniversary of the issuance of the warrant. The conversion was made through www.oanda.com on September 5, 2014.

On September 17, 2014, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction will include participation from new investor Russell Fryer of The SIebels Hard Asset Fund, Ltd., a fund managed by Green Cay Asset Management Ltd for 20,000,000 shares. The debenture will carrie a coupon of 10% per annum and would mature on February 26, 2015.