BRAZIL MINERALS, INC.
EXTINGUISHES CONVERTIBLE DEBT FROM NOTABLE HOLDER
PASADENA, CA -- September 13, 2016 -- InvesetorsHub
NewsWire -- Brazil Minerals, Inc. (OTC:
BMIX) (the "Company" or "BMIX") today announced that it had
received the final notice of conversion of debt to equity from St.
George Investments, LLC, one of its two remaining short-term
oriented variable-rate noteholders. The Company believes that the
extinguishment of this variable-rate debt and removal of this
likely seller of its common stock is a significant positive
development.
In other news, BMIX has set up a subsidiary in Brazil to hold
its mineral rights for manganese. This metal is highly sought after
for many critical uses, including manufacture of higher-quality
steel and next-generation batteries. Experts believe that there are
four countries with high-grade manganese occurrences and Brazil is
one of them. As disclosed in prior press releases, with any new
subsidiary, the Company seeks a focused avenue to raise capital for
projects, which is less dilutive of the parent, while expecting to
generate royalties from such projects. In practical terms, and
given its focus today primarily on gold and diamond assets, BMIX is
also open to a sale of a non-core subsidiary on receipt of an
attractive offer.
In additional news, its gold-focused subsidiary, Jupiter Gold
Corporation, obtained in August of 2016 a new mineral rights claim
for gold covering 4,669 acres within the well-known area in the
state of Minas Gerais in Brazil called "Iron Quandrangle". The
closest larger city to this new claim is Itabira. This region,
known for both iron and gold mining, has excellent logistics and is
also close to the states capital, Belo Horizonte. Geological
formations in the Iron Quadrangle are rich and highly complex; gold
mines usually begin as open-sky alluvial operations and later
advance underground following primary gold deposits. Several
companies have operated gold mines within the Iron Quandrangle,
notably AngloGold Ashanti and Jaguar Mining. Although a hired
expert indicated potential in this claim, confirmatory geological
research has not been performed as of yet. This claim is part of a
mineral rights bank of assets that should increase in value if
research confirms the presence of gold. As stated in prior
releases, depending on such research results and other variables,
these rights could be developed, become part of royalty-based
transactions, or sold; the rights were identified 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