BRAZIL MINERALS, INC. INCREASES CASH FLOW AND IS CLOSER TO BREAK-EVEN IN BRAZILIAN OPERATIONS
08 August 2017 - 11:09PM
InvestorsHub NewsWire
BRAZIL MINERALS, INC. INCREASES CASH FLOW
AND IS CLOSER TO BREAK-EVEN IN BRAZILIAN
OPERATIONS
PASADENA, CA--(August 8, 2017) - Brazil
Minerals, Inc. (OTC:
BMIX) (the "Company" or "Brazil Minerals") announced today that
the cash flow from its Brazilian operations has increased since
early July and that it is closer to being cash flow positive with
respect to its recurrent operational costs in
Brazil.
In particular, over a just-ended rolling monthly
period, the Company received enough cash from revenues to offset
approximately 75% of its regular and recurrent operational expenses
in Brazil, including the entirety of salary costs for its local
workforce. The Company expects this trend to continue in the
foreseeable future.
About
Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX), through various
consolidated subsidiaries has title to producing mining concessions
for gold, diamonds, and sand. More information on BMIX is
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, 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.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com
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