BRAZIL MINERALS, INC.
LIGHTENS CONVERTIBLE DEBT LOAD
PASADENA, CA--(September 6, 2016) - Brazil Minerals, Inc. (OTC:
BMIX) (the "Company" or "BMIX") today announced that it had
received a notice of conversion of debt to equity from St. George
Investments, LLC ("SGI"), one of its two remaining short-term
oriented variable-rate noteholders. The notice indicated that after
the conversion SGI would have only $11,726 remaining of BMIX's
variable-rate debt. The Company believes that it will benefit from
the extinguishment of such remaining debt and removal of this
likely seller of its common stock.
In other news, the mechanical sieving system for gold retrieval
being built at a third-party metalworking facility is scheduled to
be delivered at BMIX on or around September 20, earlier than
expected. After BMIX concluded its initial tests of alluvial
material for gold using centrifuge-based recovery, this system was
designed by a mining engineer and other consultants to support
operational-scale processing of alluvial material containing
gold.
Additionally, BMIX, through its gold-focused subsidiary Jupiter
Gold Corporation, obtained in August of 2016 three new mineral
claims for gold covering 69,330 acres in the southeastern part of
the state of Amazonas in Brazil. This region is known for both
alluvial and potential primary gold deposits, although no
independent confirmation has been performed in the obtained claims.
Their total area is very large; for comparison, it is equivalent to
approximately 4.7 times the size of Manhattan island. These claims
are part of a mineral rights bank of assets that should increase in
value if research confirms the presence of gold. Depending on such
research results and other variables, these rights could be
developed, become part of royalty-based transactions, or sold; they
were listed in BMIX's recently filed Form 10-Q for the second
quarter of 2016.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) is a producer of diamonds,
gold, sand and industrialized mortar. Through subsidiaries,
consolidated in our financial statements, we have title to 38
mineral rights for gold, diamonds, manganese, and sand, including
10 mining concessions for gold and diamonds, the highest level of
right to mine in Brazil. More information on BMIX is
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.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com