Brazilian Resources, Inc. Completes Private Placement.CONCORD, N.H.--(BUSINESS WIRE)--April 3, 1996--BRAZILIAN RESOURCES (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :BZIN) Brazilian Resources, Inc. (BRAZILIAN) announced today that it has completed the balance of a Cdn. $2,827,410 private placement. BRAZILIAN sold a total of 6,283,133 units at Cdn. $0.45 per unit. Each unit consists of one share of common stock and one half common share purchase warrant. One warrant entitles the holder to acquire an additional common share at Cdn. $0.50 for three years from the date of purchase. The offering was managed by IBK IBK see infectious bovine keratoconjunctivitis. Capital Corp., a Toronto based investment banking firm. BRAZILIAN now has 35,481,155 common shares outstanding, of which officers and directors control approximately 26 percent. There are 39,347,721 shares on a fully diluted basis. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Daniel R. Titcomb, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "BRAZILIAN is at an exciting stage in its development, with work programs underway on both gold exploration properties in preparation for the next stage of diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral . We are pleased to report that two of our new shareholders are Rayrock Yellowknife Resources Inc., through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Rayrock Holdings Inc., and Robertson Stephens & Co." Robertson Stephens, a San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden based investment banking and investment management firm, purchased US$1 million of the offering, and as previously announced, Rayrock, a Toronto based natural resource company, purchased Cdn. $1 million. Rayrock and BRAZILIAN have agreed in principle to enter into a joint venture farm-in agreement on BRAZILIAN's 50,000 acre Cedro Bom I and II gold exploration concessions in northern Mato Grosso Mato Grosso (mä`t  grô`s) [Port.,=thick forest], state (1996 pop. , Brazil. Funds from this private placement will be used for the final acquisition payment, continued diamond drilling, and an updated and expanded feasibility study for BRAZILIAN's 50 percent owned Sabara gold property in Minas Gerais, Brazil; completion of phase II of the diamond drilling program on its Cedro Bom properties; acquisition of options on new gold or diamond properties; and working capital. BRAZILIAN is a gold and diamond exploration company quoted on the Canadian Dealing Network under the symbol "BZIN". -0- NOTE TO EDITORS: BRAZILIAN's securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or resold in the United States or to a U.S person absent registration or an applicable exemption from the registration requirements. CONTACT: Brazilian Resources Inc. Daniel Titcomb/Jeffrey Kirchhoff, 603/224-4800 603/228-8045 (Fax) |
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