General Moly Inc. (fka GMOLQ)

[420man]

So, GMO is now in a legal tiff with their largest shareholder/financier... That can't be good!

As a result of AMER’s failure to fund $10 million per the Agreement, General Moly is seeking immediate sources of liquidity and is evaluating potential strategic alternatives, working with the Company’s financial advisors XMS Capital Partners, Headwall Partners, and Odinbrook Global Advisors (“Advisors”). The Company is also working concurrently with its legal advisors on the appropriate legal recourse and safeguarding the Company’s legal rights under the Agreement.

The range of strategic alternatives may include sourcing of potential incremental capital financing, sale of interest(s) in the assets of the Company or the Company, and restructuring of the convertible debt issued in a December 2014 private placement, which matures in December 2019