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20.11.2018 13:30
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Brazil Minerals, Inc. Announces Initiation of Open Market Trading of its Subsidiary Jupiter Gold Corporation (OTC: JUPGF)
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PR Newswire
PASADENA, California, November 20, 2018
PASADENA, California, November 20, 2018 /PRNewswire/ --
Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that the common stock of its majority-owned subsidiary, Jupiter Gold Corporation (OTC: JUPGF) ("Jupiter Gold"), has begun trading in the U.S. over-the-counter market with ticker symbol JUPGF. The Company has been informed that JUPGF shares may be transacted through various brokers-dealers such as TD Ameritrade, Inc., Glendale Securities, Inc. and Charles Schwab Corp.
Marc Fogassa, Chief Executive Officer of the Company, commented, "As first stated by us in July 2016, an important component of the business model of Brazil Minerals is the ownership of stakes in independent mineral-specific companies. We are therefore extremely pleased to report that this goal has been achieved for the first time with our subsidiary Jupiter Gold (OTC: JUPGF) becoming publicly-listed and able to grow on its own. Brazil Minerals will focus on the next opportunity from among several high-quality projects that it owns - in cobalt, diamond, lithium, to name a few - whether for joint-venture, partnership, sale, or equity participation via a publicly-listed subsidiary."
Jupiter Gold was founded in August 2016; it has only raised equity to date and has no debt. It is focused on gold opportunities in Brazil, a favorable jurisdiction with a well-established mining code, and currently owns over 95,000 acres of mineral rights. Jupiter Gold's management and consulting team have a successful operational history and track record, encompasses all phases from researching greenfield opportunities to permitting projects and finally to operating mines. All of Jupiter Gold's project locations are strategically selected after a multi-factor proprietary evaluation (geological, environmental, logistical), and a robust pipeline of potential future projects is under analysis.
Brazil Minerals systematically adds high-quality mineral rights to its proprietary bank of properties ("BMIX Mineral Bank"). The table below shows a breakdown of current mineral rights and related acreage. The Company regularly evaluates and prioritizes its research efforts on properties and utilizes its own equipment for drilling.
BMIX Mineral Bank
Gold: 119,989 acres
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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 ownership of stakes in independent mineral-specific companies. Our first stake from such strategy is a majority-ownership in Jupiter Gold Corporation (OTC: JUPGF). More information on Brazil Minerals is at 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 are exploratory in nature, and as of now do not have "reserves" as such term is defined in the Securities and Exchange Commission's Industry Guide 7.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
info@brazil-minerals.com
SOURCE Brazil Minerals, Inc.
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