Brazil Minerals sells $222,500 convertible for $200,000 in placement

Company sells original issue discount note to St. George Investments

By Devika Patel

Knoxville, Tenn., Feb. 27 - Brazil Minerals, Inc. sold a $222,500 convertible promissory note to St. George Investments, LLC for $200,000 in a private placement on Feb. 21, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The 10% note matures on Dec. 21, 2014. It will convert to common shares at $0.11 per share, which is a 22.22% premium to the Feb. 20 closing share price of $0.09.

Brazil Minerals is a Beverly Hills, Calif.-based company that owns a 55% interest in Mineracao Duas Barras Ltda., a Brazilian producer of rough diamonds and gold, and explores and develops mineral properties in Brazil.

Issuer:	Brazil Minerals, Inc.
Issue:	Convertible promissory note
Amount:	$222,500
Maturity:	Dec. 21, 2014
Price:	$200,000
Coupon:	10%
Conversion price:	$0.11
Conversion premium:	22.22%
Warrants:	No
Investor:	St. George Investments, LLC
Settlement date:	Feb. 21
Stock symbol:	OTCBB: BMIX
Stock price:	$0.09 at close Feb. 20
Market capitalization:	$5.74 million

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