Brazil Minerals raises $275,000 from sale of common stock, warrants

Company sells three-year warrants for 1.64 million shares at $0.10

By Marisa Wong

Madison, Wis., Sept. 5 – Brazil Minerals, Inc. raised a total of $275,000 from the sale of common stock and warrants under securities purchase agreements completed on Aug. 29, Sept. 3 and Sept. 4, according to an 8-K filing with the Securities and Exchange Commission.

The company sold a total of 6,547,618 shares of its restricted common stock and three-year warrants to purchase at total of 1,636,907 common shares at $0.10 per share. The strike price is a 54.32% premium to the Aug. 28 closing share price of $0.0648.

The investors were Jonathan and Kristen Croxton Family Trust, Greg Reed, Joshua Volen, Bradley Klingemann and Trevor Smith.

There were no investment banking or broker-dealer fees, the filing noted.

The Brazil-focused mining company is based in Pasadena, Calif.

Issuer:	Brazil Minerals, Inc.
Issue:	Common stock, warrants
Amount:	$275,000
Shares:	6,547,618
Warrants:	For 1,636,907 shares
Warrant expiration:	Three years
Warrant strike price:	$0.10
Investors:	Jonathan and Kristen Croxton Family Trust, Greg Reed, Joshua Volen, Bradley Klingemann and Trevor Smith
Settlement dates:	Aug. 29, Sept. 3, Sept. 4
Stock symbol:	OTCBB: BMIX
Stock price:	$0.0617 at close Sept. 4
Market capitalization:	$4.23 million

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