American CuMo Mining Corporation (TSXV:MLY,OTCPink:MLYCF) (“CuMoCo or the “Company”) has become aware of information published by a third party containing troubling allegations involving the principal of Millennia Minerals Pte Ltd. (“Millennia”). The Company has been in lengthy negotiations with Millennia with respect to a proposed financing transaction.
The principal of Millennia has advised the Company that such information is false and without merit. Management of the Company will conduct a investigation into the matter and will need to satisfy themselves that the allegations have no merit before the Company can proceed further with the proposed Millennia transaction.
The Company is continuing its focused efforts to raise additional financing to repay the secured convertible notes in the principal amounts of Cdn$1.5 million and US$1.5 million which become due and payable on October 25, 2017 and November 25, 2017, respectively, as well as to meet its operational requirements. Please refer to the Company’s news release of September 12, 2017 for information about the Company’s financing initiatives.
CuMoCo is focused on advancing its CuMo Project towards feasibility. CuMoCo is also advancing its newly-acquired Calida Gold project. For more information, please visit cumoco.com, idahocumo.com and cumoproject.com.
For further information, please contact:
American CuMo Mining Corporation
Shaun Dykes, President and Chief Executive Officer
Tel: (604) 689-7902
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