CuMoCo Announces Convertible Debenture Funding

American CuMo Mining Corporation (CuMoCo) (the "Company") (TSX
VENTURE:MLY)(OTCQX:MLYCF) is pleased to announce a financing to raise up to US$3
million by the sale of units ("Units") at a price of US$1,000 per Unit, with
each Unit consisting of a US$1,000 non-transferable unsecured convertible
debenture (a "Convertible Debenture") of the Corporation and 1,500
non-transferable common share purchase warrants (the "Warrants"). Each
Convertible Debenture has a term of 5 years, bears an interest rate of 8.5% per
annum, with interest payable on a semi-annual basis, and is convertible into
common shares of the Corporation at a price of US$0.3333 per common share. Each
Warrant will entitle the holder to purchase one additional common share of the
Corporation (a "Warrant Share") for a period of five years at a price of US$0.40
per warrant Share. The company has the right to buy back the convertible portion
at any time and the subscriber keeps the warrant. The offering is subject to the
approval and consent of the TSX Venture Exchange (the "Exchange").


Finder's fees, in accordance with TSX policy, will be paid in connection with
the financing. The funds raised in the financing will be used to advance the
CuMo Project by producing an updated resource calculation, additional
metallurgical studies, an improved economic analysis, and continue the
environmental base line work and for general working capital purposes.


Through part of August and September, the U.S. Forest Service hosted
informational open houses to present the proposed Supplemental Environmental
Assessment (SEA) and to allow the public to comment on the report. 


"We believe the Supplemental Environmental Assessment completes a comprehensive
review of the company's activities and fulfills commitments to date," said Shaun
Dykes, CEO of CuMoCo. "CuMoCo is grateful for the support of the local community
and of the government officials who submitted comments supporting the
advancement of the Project."


The U.S. Forest Service has completed the public comment period regarding the
SEA and is reviewing the submitted comments. USFS will address any substantive
issues raised before releasing the final report.


All ground disturbance work on the Project has been suspended since the August
2012 decision rendered by Federal District Court Judge Edward Lodge which
directed USFS to perform additional environmental evaluation on groundwater
issues within the area under review. CuMo Project leaders will continue to work
with USFS to support the agency's completion of the SEA process. The Company
believes the SEA should be approved and exploration activities resumed.


About CuMoCo

CuMoCo is focused on advancing its CuMo Project towards feasibility and
establishing itself as one of the largest and lowest-cost molybdenum producers
in the world as well as a significant producer of copper and silver. Management
is continuing to build a strong foundation from which to move CuMoCo and the
CuMo Project forward.


On behalf of the Board of Directors of American CuMo Mining Corporation

Shaun Dykes, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this new release.


Forward-looking information

This news release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation including, but not limited to,
statements that address activities, events or developments that CuMoCo expects
or anticipates will or may occur in the future, such as the CuMoCo's ability to
move its CuMo project to feasibility and production, and to become one of the
largest and lowest-cost molybdenum producers in the world as well as a
significant producer of copper and silver. Forward-looking information is based
on a number of material factors and assumptions, including the result of
exploration activities, the ability of CuMoCo to raise the financing for a
feasibility study and to put the CuMo project into production, that no labour
shortages or delays are experienced, that plant and equipment function as
specified that the Court will not intervene with CuMoCo's proposed exploration
activities at the CuMo project, and the ability of CuMoCo to obtain all
requisite permits and licenses to bring the CuMo project into production.
Forward-looking information involves known and unknown risks, future events,
conditions, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future
prediction, projection or forecast expressed or implied by the forward-looking
information. Such factors include, among others, the interpretation and actual
results of current exploration activities; changes in project parameters as
plans continue to be refined; future prices of molybdenum, silver and copper;
possible variations in grade or recovery rates; labour disputes and other risks
of the mining industry; delays in obtaining governmental approvals or financing,
as well as those factors disclosed in CuMoCo's publicly filed documents. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
information. Except as required under applicable securities legislation, CuMoCo
undertakes no obligation to publicly update or revise forward-looking
information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
American CuMo Mining Corporation
Shaun Dykes
Chief Executive Officer
(604) 689-7902
(604) 689-7816 (FAX)
info@cumoco.com
Multi Metal Development (TSXV:MLY)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025