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| Home : CuMoCo Announces Convertible Debenture Funding |
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Sep 30
2013 |
CuMoCo Announces Convertible Debenture Funding |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 30, 2013) - 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"). |
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| Source:http://www.marketwired.com/mw/release.do?id=1836047&sourceType=3 |
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