PASADENA, CA–(Marketwired – Oct 12, 2015) – Brazil Minerals, Inc. (OTC: BMIX) (the “Company” or “BMIX”) announced today that our Chief Executive Officer was selected and appointed to an Advisory Group of a leading 2016 U.S. presidential candidate. These advisors hail from business and government, each bringing particular insights and experiences. Mr. Fogassa is primarily contributing his expertise on Brazil and the U.S.-Brazil business relations. In general terms, Mr. Fogassa’s views are that any expansion in trade between the U.S. and Brazil, with a concomitant decrease or elimination of existing barriers and bureaucracy, will positively impact both countries, and would also be positive for BMIX and its long-term goals. This advisory activity requires minimal expenditure of time and provides no compensation.
In other news, there has been good progress towards completion of the dirt road connecting our large diamond and gold processing plant to a new and highly promising dry mining area, after some needed maintenance was performed on our bulldozer. The road, planned to be 3 miles long, is about half done; it meanders through a hilly area which has added some complexity to the construction. Two photographs of the road are included in this release.
BMIX had debt to equity conversions totaling $516,868 in the 3rd quarter of 2015; these numbers have not been audited as of yet. Overall, these conversions of liabilities to equity have significantly strengthened our balance sheet.
Recently, several investors have contacted us to inquire as to whether there is an active plan for a reverse split of our common stock. While we maintain all of our options open, and may change this stance at any time, there are no plans at this time for a reverse split of the Company’s common stock. Instead, our two primary goals continue to be the same as announced before: i) the overall elimination of short-term oriented variable rate convertible debt, and ii) the achievement of profitability as soon as possible.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) is a U.S. holding company with Brazilian mining properties that produce rough diamonds, gold, and sand, and a business that manufactures and sells mortar. More information on BMIX 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.
Cautionary note regarding estimates of Indicated and Inferred Mineral Resources of Diamonds and Gold as found in MDB’s NI 43-101 Technical Reports.
We advise U.S. investors that while these terms and amounts are recognized by Canadian regulations, the U.S. Securities and Exchange Commission (“SEC”) does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves as defined by the U.S.’s Industry Guide 7.
Cautionary note regarding estimates of Mineral Reserves of Diamonds and Gold as found in MDB’s Bankable Feasibility Study.
We advise U.S. investors that while these terms and amounts are recognized by Brazilian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in this category will ever be converted into mineral reserves as defined by the U.S.’s Industry Guide 7.
Cautionary note regarding estimates of Volume and Weight of Sand as found in MDB’s studies filed with the local Brazilian regulatory agencies.
We advise U.S. investors that while sand volume and weight terms and amounts as filed in Brazil are recognized by Brazilian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part of such are not considered mineral reserves as defined by the U.S.’s Industry Guide 7.