VANCOUVER, July 15, 2014 /CNW/ - The Requisitioning Shareholders (the "Requisitioning Shareholders"), representing in excess of 5% of the issued and outstanding shares of American CuMo Mining Corporation ("CuMoCo" or the "Company") (TSXV: MLY; OTCQX: MLYCF) sincerely thank CuMoCO shareholders for the strong support they've received to date, and remind those shareholders who have not yet voted to vote the BLUE proxy no later than July 17 , 2014 at 2:00 pm (Pacific Time), in advance of the proxy voting deadline. Every vote is very important to the future of your investment in CuMoCo no matter how many or how few shares you may own.
The special meeting of CuMoCo's shareholders is being called to consider the approval of special resolutions to remove Hongxue Fu and Yi Ming Xie as directors of the Company.
The meeting is required as the board of American CuMo is currently deadlocked and Hongxue Fu and Yi Ming Xie have blocked the appointment of Thomas Conway, a fully experienced and professional mining executive with an extensive resume to the board. Mr. Conway would be a valuable asset to the company and its CuMo Project.
In addition, the Requisitioning Shareholders are requesting the removal of two directors: Hongxue Fu and Yi Ming Xie. Mr. Xie, lives in China, has attended only one board meeting and, contrary to governance standards, simply assigns his vote to Mr. Fu. Mr. Fu has yet to deliver on any promises, continually blocks the Company's progress and is a disruptive influence causing excessive expense to the Company, due to a lack of North American business experience and the fact he does not speak English. Mr. Fu continuously puts his self-interest ahead of the best interests of the CuMoCo and is a clear and constant detriment to the Company.
In a clear conflict of interest, IEMR(HK), a company controlled by Mr. Fu, has notified the Company of an alleged default on debentures owned by IEMR(HK) and is claiming immediate repayment. This is a deliberate attempt to gain control of the Company's main asset, the CuMo deposit, for his own purposes at the expense of the shareholders. As a result of this obvious self-interest, Mr. Fu needs to be removed from the board.
The Requisitioning Shareholders wish to move American CuMo forward by breaking the costly and time-consuming deadlock and ensuring our fellow shareholders realize the maximum value of their shares.
Thomas Conway is the first step in adding professional management to the board, and putting the Company back on the right track. Now is the time to change as we are emerging from a market where difficult times have been widespread. It is time to put the Company's difficulties in the past and move forward by voting FOR the resolutions on the BLUE proxy.
Your Vote is Important.
If you have already voted the BLUE proxy, you do not need to do anything further and we thank you for your support.
If you have yet to vote or want to change your vote and support the Concerned Shareholders, we ask that you do so as soon as possible using the BLUE proxy or voting instruction form. To help ensure your vote is received in time, we encourage you to use either the Internet or fax Option.
In order to be deposited with CuMoCo's registrar and transfer agent in time to be used at the Meeting, your BLUE PROXY must be received by the Requisitioning Shareholders' proxy solicitation agent, Laurel Hill Advisory Group, prior to 2 p.m. (Pacific time) on July 17, 2014
If you require assistance with voting, please direct your questions to Laurel Hill Advisory Group at Toll Free: 1 877 452 7184 (1-416-304-0211 Collect) or by email at [email protected].
SOURCE: Concerned Shareholders of American CuMo
For further information:
Laurel Hill Advisory Group
Toll Free: 1 877 452 7184 (1-416-304-0211 Collect)