• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Silver Market
    Silver News
    Silver Stocks
    • Silver Market
    • Silver News
    • Silver Stocks

    American CuMo Mining Announces Revised Note and Silver Purchase Financing, Non-Brokered Private Placement, Project Update

    Teresa Matich
    Aug. 20, 2014 10:17AM PST
    Silver Investing

    American CuMo Mining Corporation (TSXV:MLY,OTCQX:MLYCF) announced revised terms for its proposed US$25,000,000 financing. The financing involves the sale of up to 100 units of American CuMo’s subsidiary, Idaho CuMo Mining Corporationt at a price of US$250,000 per Idaho CuMo Unit. Each unit will consist f a non-transferable promissory note in the principal amount of US$250,000 as well as a right to enter into a silver purchase and sale agreement with Idaho CuMo.

    American CuMo Mining Corporation (TSXV:MLY,OTCQX:MLYCF) announced revised terms for its proposed US$25,000,000 financing. The financing involves the sale of up to 100 units of American CuMo’s subsidiary, Idaho CuMo Mining Corporationt at a price of US$250,000 per Idaho CuMo Unit. Each unit will consist f a non-transferable promissory note in the principal amount of US$250,000 as well as a right to enter into a silver purchase and sale agreement with Idaho CuMo.

    As quoted in the press release:

    The Notes would now be secured against the assets of Idaho CuMo (previously the Notes were to have been unsecured); bear interest at a rate of 8.5% per annum (previously 6.0%), payable semi-annually on June 30 and December 31; and have a term of 7 years. With the consent of the holder of the Note, Idaho CuMo could prepay all or any portion of the principal amount outstanding under such Note at any time, provided that any prepayment in whole or in part of the Note would cause the Silver Purchase Right to immediately expire.

    American CuMo also announced a concurrent non-brokered private placement for gross proceeds of up to $500,000 and provided an update on the CuMo project.

    Click here to read the American CuMo Mining Corporation (TSXV:MLY) press release
    Click here to see the American CuMo Mining Corporation (TSXV:MLY) profile.

    tsxv:mlyotcqx:mlycfamericn cumo mining corpprivate placement
    The Conversation (0)

    Go Deeper

    AI Powered
    Nevada Silver

    Corporate and Project Update on the Emily Manganese Project

    Gold Mountain Mining Corp. Provides a Corporate Update

    Gold Mountain Mining Corp. Provides a Corporate Update

    Latest News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES