El Capitan Precious Metals Inc. (OTCPK:ECPN) announced that it entered into a securities purchase agreement with new investor River North Equity, LLC for private placement of a Convertible Promissory Note Due March 16, 2017 for gross proceeds of $81,000 on March 16, 2016. The note was issued with an original issue discount of $9,000. The note has interest rate of 10% per annum and will mature on March 16, 2017.

The company will issue the note pursuant to Regulation D. The company paid $6,480 in due diligence fees to Daniel Covill.