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Share Name | Share Symbol | Market | Type |
---|---|---|---|
El Capitan Precious Metals Inc (CE) | USOTC:ECPN | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
Nevada
|
|
333-56262
|
|
88-0482413
|
(State or Other Jurisdiction
of Incorporation)
|
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(Commission File Number)
|
|
(IRS Employer
Identification No.)
|
5871 Honeysuckle Road
Prescott, AZ
|
|
86305-3764
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(Address of Principal Executive Offices)
|
|
(Zip Code)
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
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• |
The Note prohibits the Company, without L2 Capital’s consent, from issuing any Variable Rate Security without simultaneously satisfying all payment obligations under the Note. A “Variable Rate Security” is any security of the Company that has conversion rights in which the number of shares that may be issued upon conversion varies with the market price of the common stock.
|
• |
The Note prohibits the Company from entering into a transaction with any party other than L2 Capital that is structured in accordance with, based on, or related or pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”), without prior consent of L2 Capital, and any Section 3(a)(9) transaction that does occur will result in a liquidated damage charge to the Company equal to 25% of the outstanding principal balance of the Note (but not less than $15,000).
|
• |
A “most favored nations” clause will apply, pursuant to which, if the Company issues securities with any term more favorable to the holder thereof than the terms of the Note, L2 Capital may require that such term become a part of the Securities Purchase Agreement and the Note. Types of terms to which the “most favored nations” clause may apply include without limitation terms addressing conversion discounts, prepayment rate, conversion look-back periods, interest rates, original issue discounts, stock sale price, private placement price per share and warrant coverage.
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• |
L2 Capital has a right of first refusal with respect to any bona fide capital or financing from any other third party.
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Item 9.01
|
Financial Statements and Exhibits.
|
Exhibit No.
|
Description
|
|
10.1
|
||
10.2
|
|
EL CAPITAN PRECIOUS METALS, INC.
|
|
|
|
|
|
|
|
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By:
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/s/ Stephen J. Antol
|
Date: January 8, 2018
|
|
Name: Stephen J. Antol
|
|
|
Title: Chief Financial Officer
|
Exhibit No.
|
Description
|
|
10.1
|
||
10.2
|
1 Year El Capitan Precious Metals (CE) Chart |
1 Month El Capitan Precious Metals (CE) Chart |
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