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| Big News Triggers Big Moves in Market BMIX Up 14.5% |
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 Hot Stock to Watch |
Company: Brazil Minerals Inc. (OTCQB: BMIX)
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Last:
Price: 0.14
Change (%): + 0.0177 (14.47)
Volume: 266,466 |
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Brazil Minerals, Inc. Receives US 500,000 Dollars From Polished Diamonds Transaction
BELO HORIZONTE, BRAZIL--(Marketwired - Mar 10, 2014) - Brazil Minerals, Inc. (OTCQB: BMIX) (the "Company" or "BMIX"), a diversified mining company currently producing diamonds and gold at its Mineração Duas Barras Ltda. ("Duas Barras") property in Brazil, announced today that it has received US 500,000 dollars 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 dollars, 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 dollars, and instead received a counter-offer with US 500,000 dollars. 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.”
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