SAO PAULO, BRAZIL--(Marketwired - May 13, 2013) - Brazil Minerals, Inc. (
On April 30, 2013, BMIX and Brazil Mining, Inc. ("Brazil Mining"), a privately-held Delaware corporation and the current largest shareholder of BMIX, consummated an agreement for majority control of Duas Barras. Brazil Mining sold to the 99.99%-owned Brazilian subsidiary of BMIX the rights to all profits, losses, and appreciation or depreciation, and all other economic and voting interests of any kind in a 55% equity interest that Brazil Mining has in Duas Barras, in exchange for 1,000,000 shares of BMIX's common stock. From April 30, 2013, BMIX began recording 55% of the sales and profits of the mine's operations, which will be included in the BMIX's quarterly report for the period ended June 30, 2013.
Marc Fogassa, Chairman and Chief Executive Officer of BMIX, stated with respect to this news, "Duas Barras is the first revenue-generating operation which we acquired for BMIX. The Duas Barras mine has the largest physical plant for processing alluvial diamonds and gold anywhere in Latin America, and its mining concession has had an NI 43-101 technical report issued, which documented both indicated and inferred resources for gold and diamonds. The Duas Barras majority equity stake is pivotal in that BMIX now captures gold revenues that it did not have before, as well as a higher participation in raw diamond sales. In addition to Duas Barras' processing its own gold and diamond resources, it can strategically serve any immediate mining concession areas and companies with whom BMIX decides to partner with in the future."
About Brazil Minerals, Inc. Brazil Minerals, Inc. (OTCQB: BMIX ), a U.S. corporation, is a precious minerals producer with resources and assets in Brazil. Its operations include a majority interest in Duas Barras, a diamond and gold producing mine located in the state of Minas Gerais, as well as full ownership of Borba, a promising gold producing area in the state of Amazonas. BMIX also has a pipeline of opportunities in various minerals throughout Brazil. Its Brazilian headquarter is in São Paulo, the financial hub of Latin America, with an operational office in Belo Horizonte, the capital of the state of Minas Gerais, which means "General Mines" in Portuguese language, an indication of the strength of the natural resources in that region of Brazil. More information 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, the Company'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.
CONTACTS For the Company Marc Fogassa Chairman and CEO Brazil Minerals, Inc. 324 S Beverly Drive, Suite 118 Beverly Hills, CA 90212 USA Telephone: +1 (213) 590-2500 Email Contact www.brazil-minerals.com For Investors John Mattio SVP MZ North America 1001 Avenue of the Americas New York, NY 10018 Telephone: +1 (212) 301-7130 Email Contact www.mzgroup.us
