april fools ?
American CuMo sued over $1-million (U.S.) advance
2019-03-29 10:05 ET - Street Wire
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by Mike Caswell
American CuMo Mining Corp., a suspended TSX Venture Exchange listing, is a defendant in a lawsuit filed in the Supreme Court of British Columbia from a would-be backer in the British Virgin Islands. The suit claims that American CuMo failed to return $1-million (U.S.) that the company received in 2017. The money was part of a financing arrangement that never went ahead, the suit states.
The allegations are contained in a notice of claim filed at the Vancouver courthouse on March 22, 2019. The suit was filed on behalf of Acepac Holdings Ltd., which identifies itself as a company incorporated in the British Virgin Islands. The case stems from an agreement between Acepac and American CuMo from 2017, in which Acepac was to invest $1-million (U.S.) as part of a broader $10-million (U.S.) transaction. Acepac claims that it sent $1-million (U.S.) on March 14, 2017, with the money to be held in American CuMo's bank account in trust until the parties finalized a definitive agreement.
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