Brazilian Resources, Inc. Completes Private Placements.CONCORD, NEW HAMPSHIRE--(BUSINESS WIRE)--March 26, 1997-- 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 two special warrant private placements. BRAZILIAN received Cdn. $1,435,000 (approximately US $1,043,636) from the sale of 2,870,000 special warrants at Cdn. $0.50. Each special warrant may be exchanged for one share of common stock and a one-half common share purchase warrant. Each full purchase warrant entitles the holder to acquire an additional common share at Cdn. $0.55 for one year from the date the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. receipt is issued by the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . BRAZILIAN received US $1,365,000 (approximately Cdn. $1,816,000) from the sale of 4,200,000 special warrants at US $0.325. Each special warrant may be exchanged for one share of common stock and a three-quarter common share purchase warrant. Each full purchase warrant entitles the holder to acquire an additional common share at US $0.37 (approximately Cdn. $0.50) for one year from the date the final prospectus receipt is issued by the Ontario Securities Commission. BRAZILIAN now has 35,771,537 shares outstanding, of which officers and directors control approximately 22 percent. Outstanding shares will increase to 42,841,537 upon conversion of these offerings' special warrants to common shares. Funds from these placements will be and have been used for property acquisition, exploration on BRAZILIAN's wholly-owned Sabara and Cedro Bom gold properties, and working capital. BRAZILIAN recently agreed to option 70 percent of its Sabara property to the Brazilian subsidiary of Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. Inc. for up to US $21,500,000 in payments over the next two years. The Sabara property is located in a major mining district known as the Quadrilatero Ferrifero, which is host to numerous gold deposits in banded iron formations Banded iron formations (also known as banded ironstone formations or BIFs) are a distinctive type of rock often found in primordial sedimentary rocks. The structures consist of repeated thin layers of iron oxides, either magnetite or hematite, alternating with bands . Previous 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 has demonstrated a drill measured resource of 308,000 ounces of gold in the A and B Zones. BRAZILIAN intends to begin a 4500-meter drill program in April to expand and upgrade a resource in Zone A. Placer Dome has begun exploration on the surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. area. BRAZILIAN is a gold and diamond exploration company quoted on the Canadian Dealing network under the symbol "BZIN". BRAZILIAN's securities have not been registered under the U.S. Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and may not be offered, sold or resold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. or to a U.S. person absent registration of an applicable exemption from the registration requirements. CONTACT: Brazilian Resources Inc. Daniel Titcomb, 603/ 224-4800 603/ 228-8045 (FAX) e-mail: info@brazilianresources.com or Brazilian Resources Inc. Jeffrey Kirchhoff, 603/ 224-4800 603/ 228-8045 (FAX) email: info@brazilianresources.com |
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