EL CAPITAN PRECIOUS METALS, INC. (OTCMKTS:ECPN) Files An 8-K Entry into a Material Definitive Agreement

EL CAPITAN PRECIOUS METALS, INC. (OTCMKTS:ECPN) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01

Entry into a Material Definitive Agreement

Amendment No. 1 to Equity Purchase Agreement with
River North Equity, LLC

On March 16, 2016, El Capitan Precious Metals, Inc. (the Company)
entered into an Equity Purchase Agreement (the Purchase
Agreement) with River North Equity, LLC (River North), to which
the Company may from time to time, in its discretion, sell shares
of its common stock to River North for aggregate gross proceeds
of up to $5,000,000. On December 9, 2016, the Company entered
into Amendment No. 1 to the Purchase Agreement (the Amendment) in
order to amend the formula to which the purchase price for the
Companys shares is calculated and to make certain other
amendments to the terms of the Purchase Agreement.

to the Purchase Agreement, and prior to the Amendment, the
purchase price for each share of the Companys common stock
purchased under the Purchase Agreement was equal to 85.0% of the
Market Price, which is defined as the average of the two lowest
closing bid prices on the Over-the-Counter Bulletin Board, as
reported by Bloomberg Finance L.P., during the five consecutive
trading days including and immediately prior to the date on which
the applicable put notice is delivered to River North (the
Pricing Period). If the Company was not deposit/withdrawal at
custodian (DWAC) eligible or if the Company was under Depository
Trust Company (DTC) chill status at the time of a sale, an
additional 5.0% and 10% discount to the Market Price,
respectively, applied.

As amended, the Pricing Period includes the five consecutive
trading days including and immediately prior to the settlement
date of the sale, which in most circumstances will be the trading
day immediately following the date that a put notice is delivered
to River North (a Put Date). In addition, if either (i) the
closing bid price the common stock is less than $0.10 per share
on the Put Date, or (ii) the average daily trading volume in
dollar amount for the common stock during the ten trading days
including and immediately preceding a Put Date is less than
$50,000, then an additional 10% discount to the Market Price will
be taken when calculating the purchase price for the shares. The
prior discounts for DWAC ineligibility and DTC chill status
remain.

The foregoing description of the terms of the Amendment does not
purport to be complete and is subject to and qualified in its
entirety by reference to the agreement itself, a copy of which is
filed as Exhibit 10.1 to this report, and the terms of which are
incorporated herein by reference. The benefits and
representations and warranties set forth in such agreement (if
any) are not intended to and do not constitute continuing
representations and warranties of the Company or any other party
to persons not a party thereto.

Item 9.01 Financial Statements and Exhibits
(d) Exhibits
ExhibitNo. Description
10.1

Amendment No. 1 dated December 9, 2016 to Equity Purchase
Agreement dated March 16, 2016 by and between El Capitan
Precious Metals, Inc. and River North Equity, LLC


About EL CAPITAN PRECIOUS METALS, INC.  (OTCMKTS:ECPN)

El Capitan Precious Metals, Inc. is an exploration-stage company. The Company is principally engaged in the exploration of precious metals and other minerals. Its primary asset is its equity interest in El Capitan, Ltd. (ECL), which holds an interest in the El Capitan property located near Capitan, New Mexico. The Company’s El Capitan Property is situated in the Capitan Mountains, near the city of Capitan, in southwest New Mexico. Its holdings at the El Capitan Property consist of approximately four patented mining claims, covering over 77.5 acres (the Patented Claims), and approximately 10 lode claims with the Bureau of Land Management (BLM), covering over 240 acres (the BLM Claims). The lode claims are known as Mineral Survey Numbers 1440, 1441, 1442 and 1443, which are each located in 1902 and patented in 1911. The claim block is located in Lincoln County, New Mexico and occupies a total of approximately 3,000 acres.

EL CAPITAN PRECIOUS METALS, INC.  (OTCMKTS:ECPN) Recent Trading Information

EL CAPITAN PRECIOUS METALS, INC.  (OTCMKTS:ECPN) closed its last trading session down -0.0029 at 0.0497 with 489,769 shares trading hands.

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