PASADENA, California, July 11, 2018 /PRNewswire/ --
Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that its 55.4%-owned subsidiary, Jupiter Gold Corporation ("Jupiter Gold"), has received stock ticker symbol "JUPGF" for its common stock. The "F" denotes that it is a foreign company. Trading in the common stock is expected to commence later in this quarter.
Jupiter Gold has 4,429,599 common shares outstanding, of which the public float is 250,100 shares. Jupiter Gold last issued common stock in 2017 at $1.00/share. Its financial statements are audited by a PCAOB auditor and filed with the Securities and Exchange Commission as part of its annual report. Jupiter Gold has not issued any convertible debt and its bylaws specifically prohibit the issuance of any variable-rate convertible debt.
Jupiter Gold's main gold asset today is its Paracatu Project, a mineral right with 773 acres in a premier gold district in the state of Minas Gerais in Brazil. Drilling in this mineral right evidenced presence of gold in multiple holes and collected samples are currently undergoing geochemical analysis. This claim encompasses an alluvial plain along the Rico Creek, which drains the giant Paracatu gold deposit known as "Morro do Ouro" (Gold Hill), an ore body of 16 million ounces owned and operated by Kinross Gold Corporation (NYSE: KGC). In all, Jupiter Gold has title to eleven mineral rights in Brazil encompassing a total surface area of 94,828 acres.
Marc Fogassa, CEO of the Company commented, "Today's announcement is a substantially positive step for Brazil Minerals. Our business model is both focused on mining specific areas for gold and diamonds, as well as generating a portfolio of equity and/or royalty interests in subsidiaries with high quality projects, of which Jupiter Gold is the furthest developed example."
BMIX Mineral Bank:
Gold: 119,989 acres
Diamond (kimberlites): 92,961 acres
Diamond (alluvial): 27,612 acres
Cobalt/Copper/Nickel: 5,011 acres
Iron/Titanium/Vanadium: 4,938 acres
Lithium: 288 acres
Manganese: 4,970 acres
Aquamarine/Beryl/Tourmaline: 288 acres
Sand (construction industry): 4,995 acres
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) along with its subsidiaries has a business model focused on: 1) mining specific areas for gold and diamonds, and 2) generating projects from its portfolio of high quality mineral rights for transactions leading to royalties and/or equity positions. Our first equity holding from such strategy comes to 55.4% ownership in Jupiter Gold Corporation. More information on BMIX is contained on its website at http://www.brazil-minerals.com. Follow us on Twitter: @BMIXstock.
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, Brazil Minerals, Inc.'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. We advise U.S. investors that the claims listed in the BMIX Mineral Bank, which include claims held by the subsidiaries of Brazil Minerals, Inc., as of now do not have measured "reserves" as such term is defined in the Securities and Exchange Commission's Industry Guide 7.
CEO, Brazil Minerals, Inc.
SOURCE Brazil Minerals, Inc.