VANCOUVER, March 19,
2015 /CNW/ - American CuMo Mining Corporation
("CuMoCo" or the "Company") (TSXV: MLY; OTC-Pink: MLYCF)
announces that Shaun Dykes,
John Moeller, Joseph Baird, Thomas
Conway and Trevor Burns were
elected as the Company's Board of Directors at the Company's annual
and special general meeting held yesterday.
Shareholders of the Company also approved:
- the reappointment of DeVisser Gray LLP as the Company's
auditor;
- an ordinary resolution approving the Company's rolling 10%
incentive stock option plan for the next year;
- an ordinary resolution of the disinterested shareholders of the
Company to approve, subject to receipt of TSX Venture Exchange
approval, the reduction of the exercise price to $0.15 of certain unexercised outstanding stock
options previously granted to certain insiders and others; and
- a special resolution approving an alteration to the Company's
Articles to include provisions requiring advance notice from
shareholders of director nominees,
all as further described in the Company's
management information circular dated February 15, 2015 and
filed on the Company's profile at www.sedar.com.
Shaun Dykes
thanked shareholders for their continued support and patience
during the past eight months and provided an update on the progress
of the CuMo Project and the current state of negotiations with
various parties interested in funding the Company. Over the past
few months substantial progress has been made towards completing
the Supplemental Environmental Assessment, with the final report
and decision expected shortly. Since the dismissal of the
receivership hearing, interest in financing the Company and the
CuMo Project has increased and discussions of potential financing
options are ongoing with several groups from around the world.
Mr. Shaun M.
Dykes, M.Sc. (Eng), P.Geo., President and CEO of the Company
is the designated qualified person for the CuMo Project, and
prepared the technical information contained in this news
release.
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 the Company and the
CuMo Project forward. For more information, please visit
www.cumoco.com and www.cumoproject.com
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 the Company expects or
anticipates will or may occur in the future, such the Company'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 the Company 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 the Company's proposed exploration activities at
the CuMo Project, and the ability of the Company to obtain all
requisite permits and licenses to advance the CuMo Project and
eventually bring it 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 the Company's publicly filed documents,
including the Company's Management's Discussion and Analysis for
the period ended December 31,
2014. 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, the Company undertakes no obligation to publicly
update or revise forward-looking information.
SOURCE American CuMo Mining Corporation