2014-03-10 14:53:17 - Brazil Minerals, Inc. Receives US$500,000 From Polished Diamonds Transaction
Brazil Minerals Inc (OTCBB:BMIX), a diversified mining company currently producing diamonds and gold at its Mineracao Duas Barras Ltda. ("Duas Barras") property in Brazil, announced today that it has received US$500,000 from two U.S. high net worth individuals, including a natural resources expert, as payment on polished diamonds for delivery over a period of one year. Further details concerning the transaction are set forth in the Form 8-K that the Company has filed with the SEC today.
Within the last two months, BMIX has received almost US$1 million, without selling any stock outright, in successfully completed transactions that raised cash for general purposes and funds to purchase mining equipment for Duas Barras. The Board of Directors of the Company has been
fortunate to select from whom it takes capital and to negotiate terms that it considers attractive to BMIX and its shareholders. The groups and principals transacting with BMIX have been financially sophisticated, and have included investment managers, venture capitalists, and natural resource experts, all of whom performed due diligence on the Company and its assets.
Marc Fogassa, Chairman and CEO of BMIX, commented, "For a growing Company such as BMIX, this large cash infusion announced today from smart and networked investors is superb news; in fact, we had asked for US$250,000, and instead received a counter-offer with US$500,000. This funding provides the breadth and latitude to carry out some additional operational improvements in Duas Barras as well as to accelerate certain other value-creating, strategic opportunities. Finally, we believe that this transaction validates not only the quality of our production, but also our business model and management team."
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX), a U.S. corporation, is a diversified mining company with revenues from sales of rough and polished diamonds as well as gold, and ownership of interests in projects in gold, titanium, vanadium and iron in Brazil. BMIX currently owns a controlling stake of 55% in Mineracao Duas Barras Ltda. More information on BMIX, including an investor presentation, can be found at www.brazil-minerals.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions; geopolitical events and regulatory changes, availability of capital, BMIX's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
VP, Finance & Business Development
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