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Directors of American CuMo Mining Corporation provide update
Directors of American CuMo Mining Corporation provide update.
About this update from Multi-metal Dev Ltd.
[{"type":"text","content":"\n\n\n\nDirectors of American CuMo Mining Corporation provide update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDirectors of American CuMo Mining Corporation provide update\nPR Newswire\nVANCOUVER, June 30, 2014\n\n\n\nVANCOUVER, June 30, 2014 /PRNewswire/ - American CuMo Mining Corporation (\"CuMoCo\" or the \"Company\") (TSXV: MLY) (OTCQX: MLYCF) announces that it has received a notice filed on behalf of IEMR(HK),  a company owned and controlled by Hongxue Fu,  the chairman and director of the company,  that the company has defaulted on its two debentures with IEMR(HK).  IEMR(HK) alleges among other things that the company disposed of assets contrary to a section of the general security agreement.\n\nThe company will be seeking independent legal counsel to vigorously defend the allegations, as the company has not defaulted on any conditions of the debenture agreements.\n\nIEMR(HK) also has filed an additional lawsuit against the company and the Chief Operating Officer,  Shaun Dykes in which IEMR(HK) is seeking an oppression remedy.\n\nMr. Dykes has advised the Company that the allegations made by IEMR(HK) against him in the Notice of Claim are denied and without any merit.\n\nThe company has accepted the resignation of Aurora Davidson, the company's Chief financial Officer, as of June 30, 2014.  The company wishes her success in her future endeavors and thanks her for her work on behalf of the company. \n\nThe company is currently interviewing highly qualified candidates for the position.\n\nCertain Members of the board have formally requested Mr. Hongxue Fu's resignation from the board of directors, as a result of the filing of the notice claiming default.\n\nShareholders have called a special meeting of the company scheduled for July 22, 2014.  Specific resolutions to be voted at the meeting include the removal of HongXue Fu, and Yi Ming Xie from the board of directors and appoint Thomas Conway as an additional director. The proxy materials and circular are being mailed to shareholders  and are available at www.sedar....