American CuMo Mining Corporation Closes Non-Brokered Private Placement

American CuMo Mining Corporation (TSXV:MLY,OTCPINK:MLYCF) announced it has closed the non-brokered private placement previously announced in its September 29, 2015 news release.
As quoted in the press release:

The Placement raised gross cash proceeds of $412,500 through the issuance of 5,156,250 units (the “Units“) at a price of $0.08 per Unit, with each Unit being comprised of one common share of the Company and one share purchase warrant (“Warrant“). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.15 for a period of five years from the closing of the Placement, subject to an acceleration provision if the Company’s common shares trade at or above a price of Cdn$0.175 per share for a period of 10 consecutive trading days.
Funds will be used for general working capital and to fund ongoing work on the Company’s CuMo porphyry molybdenum-copper-silver project located in Idaho.

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