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American CuMo Mining Corporation announces proposed $25 million financing
American CuMo Mining Corporation announces proposed $25 million financing.
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[{"type":"text","content":"\n\n\n\nAmerican CuMo Mining Corporation announces proposed $25 million financing\n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n\n\n\n\n\nAmerican CuMo Mining Corporation announces proposed $25 million financing\nPR Newswire\nVANCOUVER, Dec. 18, 2013\n\n\n\n\nVANCOUVER, Dec. 18, 2013 /PRNewswire/ - American CuMo Mining Corporation\n (\"CuMoCo\" or the \"Company\") (TSXV: MLY) (OTCQX: MLYCF) is pleased to announce its intention to undertake a financing to raise\n up to US$25 million (the \"Financing\") through the sale of up to 100\n units (\"Units\") of its subsidiary, Idaho CuMo Mining Corporation\n (\"Idaho CuMo\"), at a price of US$250,000 per Unit, with each Unit\n consisting of a unsecured and non-transferable promissory note in the\n principal amount of US$250,000 (a \"Note\") and a right (the \"Silver\n Purchase Right\") to enter into a silver purchase and sale agreement (a\n \"Silver Purchase Agreement\") with Idaho CuMo.\n\n\nThe Notes would bear interest at a rate of 6% per annum, payable\n semi-annually on June 30 and December 31, and would have a term of 5\n years.  With the consent of the holder of the Note, Idaho CuMo could\n prepay all or any portion of the principal amount outstanding under\n such Note at any time, provided that any prepayment in whole or in part\n of the Note would cause the Silver Purchase Right to immediately\n expire.\n\n\nThe Silver Purchase Right would be exercisable by the holder within 30\n days of completion of a feasibility study and decision by the Company\n t...