Ecometals Ltd. (TSXV:EC) announced a private placement of 14,285,714 units at CAD 0.035 per unit for gross proceeds of CAD 500,000 on December 11, 2012. Each unit consists of one common share and one common share purchase. Each warrant entitles the holder to purchase one common share at CAD 0.07 during the first year after the issuance and CAD 0.10 during the second year after the issuance. The company expects the transaction to close prior to December 31, 2012.

On January 18, 2013, the company issued 1,309,570 units for gross proceeds of CAD 45,834.95. The warrants entitle the holder thereof to acquire one common share at a price of CAD 0.07 per share until January 18, 2014 and thereafter at CAD 0.10 per share until January 18, 2015. The transaction was approved by the board of directors of the company, excluding Russell Fryer, a director of the company who subscribed for units for proceeds of CAD 9,850. The securities issued are subject to a hold period of four months expiring on May 19, 2013.