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Brazil Minerals (OTCQB:BMIX) has obtained an equity line of credit facility from Global Corporate Finance. The line of capital will provide the company with working capital as needed, amy may allow the company to repurchase debt if combined with cash flows from operations.
As quoted in the press release:
Under the terms of the deal, if and when the Company gives GCF a written request to put certain BMIX shares of common stock to it, GCF will purchase them for a three percent (3%) percent discount to the average of the three lowest volume weighted average prices (VWAPs) of the Company’s common stock in the prior ten consecutive trading days. The minimum price at which BMIX’s common stock is to be sold is initially set at $0.02, and is subject to adjustment at the Company’s sole discretion
Click here to read the Brazil Minerals (OTCQB:BMIX) press release
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