American CuMo Mining Corp (TSXV:MLY,OTCPINK:MLYCF), along with its subsidiaries Idaho CuMo Mining Corp. and Poly Resources LLC, has noted that a payment of $1-million (U.S.), representing the first instalment payment of the first private placement of $10-million (U.S.), as per the binding memorandum of understanding entered with Millennia Minerals Pte. Ltd. (Singapore) (see Feb. 27, 2017, news release), has been sent to Poly’s bank account in Boise, Idaho. The funds will be available upon final legal review of the definitive agreement.
Representatives of Millennia are actively working together with CuMoCo team members on the ground in Boise and continue driving this new strategic financial relationship forward.
Shaun M. Dykes, MSc (Eng), PGeo, president and chief executive officer of the company, is the designated qualified person for the CuMo project and prepared the technical information contained in this news release.
American CuMo Mining is focused on advancing its CuMo project toward feasibility and establishing itself as one of the largest and lowest-cost molybdenum producers in the world, as well as a significant producer of copper and silver. American CuMo Mining also intends to advance its newly acquired Calida gold project.
We seek Safe Harbor.