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Brazil Minerals, Inc. (OTCQB: BMIX) has received US$ 500,000 in a transaction with four investors where Brazil Minerals sold a combination of GIA-graded diamonds, common stock and two-year options. The GIA-graded diamonds may be delivered over time up until the end of 2015.
As quoted in the press release:
In April, 2014, BMIX filed its audited financial statements with the SEC. In 2013, the first year of operations in mining for the Company, revenues consisting of sales of rough diamonds and gold, reached US$ 791,780. In 2014, BMIX is selling a portion of its production as polished diamonds, at much higher margins than rough ones. Additionally, so far in 2014, BMIX has received over US$ 1.5 million in successfully completed transactions that raised cash, including the one announced today.
Brazil Minerals CEO, Marc Fogassa, said:
The news announced today is very good. It is another example of the Company’s ability to attract capital from the forward sale of diamonds that are being produced in our mining operations in Brazil. This is a validation of our business model and of the quality of our production.
Click here to read the Brazil Minerals (OTC:BMIX) press release