- American CuMo Mining Corporation (MLY) subsidiary, International CuMo Mining Corporation (ICMC), has closed its private placement for gross proceeds of US$3.1 million
- ICMC has sold 31,000,000 units at a price of US$0.10 per unit
- Each unit consists of one share of ICMC and a 5-year warrant to purchase an additional share for US$0.15
- Funds raised would be used for business development and reorganization and to initiate more detailed metallurgical and ore-sorting studies on the CuMo Project
- American CuMo Mining Corp is an exploration and development company with mineral rights interests in the United States of America and Austria
- American Cumo Mining Corporation is up 11.1 per cent on the day, trading at $0.05 at 1:10 PM ET
American CuMo Mining (MLY) subsidiary, International CuMo Mining Corporation (ICMC), has closed its private placement for gross proceeds of US$3.1 million.
ICMC has sold 31,000,000 units at a price of US$0.10 per unit.
Each unit consists of one share of ICMC and a 5-year warrant to purchase an additional share for US$0.15.
Funds raised would be used for business development and reorganization and to initiate more detailed metallurgical and ore-sorting studies on the CuMo Project.
The ICMC private placement was carried out in reliance on an exemption from the prospectus requirements of Canadian securities laws.
Some non-arm’s length parties who are also ICMC Investors have agreed to participate in the ICMC private placement for a total of 13,925,000 ICMC units.
American CuMo Mining Corp is an exploration and development company with mineral rights interests in the United States of America and Austria.
American Cumo Mining Corporation is up 11.1 per cent on the day, trading at $0.05 at 1:10 PM ET.
