El Capitan Precious Metals Inc. (OTCPK:ECPN) announced that it has entered into equity purchase agreement for private placement of common shares for gross proceeds of up to $5,000,000 on March 16, 2016. The equity line transaction will include participation from new investor, accredited River North Equity, Inc. Unless terminated earlier, the investors purchase commitment will automatically terminate on the earlier of the date on which the investor shall have purchased company's shares pursuant to the agreement for an aggregate purchase price of $5,000,000 or March 16, 2018. The company may determine the tranche amount, provided that such amount may not be more than the average daily trading volume in dollar amount for the company's common shares during the 10 trading days preceding the date on which the company delivers the applicable put notice.

Additionally, such amount may not be lower than $5,000 or higher than $150,000 without prior approval of the investor. The company will issue securities pursuant to exemption provided under Regulation D.