Ecometals Ltd. (TSXV:EC) announced a non-brokered private placement of 200 units at $1,000 per unit for gross proceeds of $200,000 on August 28, 2013. Each unit comprises of a convertible unsecured debenture and 20,000 common share purchase warrants. The debentures are convertible at the option of the holder at anytime up to and including the date of maturity, for 20,000 common shares of the company.

The debentures mature within one year from the date of issuance. Each warrant entitles the holder thereof to acquire one common share at a price of $0.05 for a period of one year from issuance.