American CuMo Mining Corporation announced that it has received a notice filed on behalf of IEMR(HK), that the company has defaulted on its two debentures with IEMR(HK). IEMR(HK) alleges among other things that the company disposed of assets contrary to a section of the general security agreement. The company will be seeking independent legal counsel to vigorously defend the allegations, as the company has not defaulted on any conditions of the debenture agreements. IEMR(HK) also has filed an additional lawsuit against the company and the Chief Operating Officer, Shaun Dykes in which IEMR(HK) is seeking an oppression remedy. The company has accepted the resignation of Aurora Davidson, the company's Chief financial Officer, as of June 30, 2014.