CORRECTION FROM SOURCE To Confirm CDN and US Dollar Amounts: Brazilian Resources Completes Private Placement; Discusses Capital Structure.CONCORD, N.H. -- Brazilian Resources, Inc.(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: BZI.H) ("BRAZILIAN") has completed its previously announced non-brokered US$115,000 private placement of units at a price of US$0.10 per unit. Each unit consists of one common share and two one-half common share purchase warrants (the "A" and "B" purchase warrants). Each whole "A" purchase warrant entitles the holder to purchase one additional common share at a price of US$0.125 until June 8, 2005. Each whole "B" purchase warrant entitles the holder to purchase one additional common share at a price of US$0.15 until June 8, 2005. Proceeds have and will be used for working capital and to complete due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on certain mineral projects in Brazil. Current capital structure BRAZILIAN recently received final regulatory approvals regarding options that had been re-issued and/or re-priced as part of the company's comprehensive debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: plan and approved at a shareholder meeting. A total of 4,294,793 options (4,064,793 options for directors and officers) were cancelled and re-issued with and exercise price of Cdn.$0.10 per share until April 3, 2008. A total of 800,000 options (all for directors and officers) were 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. to be exercised at Cdn.$0.10. After issuance of the shares, purchase warrants and options described above, BRAZILIAN's capital structure is as follows:
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Security Expiration Exercise Price Securities Common
Date Outstanding Shares on
Exercise
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Common Shares 80,579,488 80,579,488
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Warrants 17 Feb 05 US$0.40 1,000,000 1,000,000
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Warrants 8 Jun 05 US$0.125 575,000 575,000
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Warrants 8 Jun 05 US$0.15 575,000 575,000
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Options 5 Dec 05 Cdn$0.10 650,000 650,000
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Options 28 Mar 06 Cdn$0.10 150,000 150,000
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Options 12 Dec 07 Cdn$0.10 1,523,000 1,523,000
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Options 3 Apr 08 Cdn$0.10 4,294,793 4,294,793
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Options 14 Apr 09 Cdn$0.155 1,250,000 1,250,000
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90,597,281
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BRAZILIAN is a resource and infrastructure development company trading on the NEX NEX abbr. Navy exchange board of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . BRAZILIAN currently has business interests in mining, energy and gamma ray gamma ray Penetrating very short-wavelength electromagnetic radiation, similar to an X-ray but of higher energy, that is emitted spontaneously by some radioactive substances (see gamma decay; radioactivity). ionization ionization: see ion. ionization Process by which electrically neutral atoms or molecules are converted to electrically charged atoms or molecules (ions) by the removal or addition of negatively charged electrons. , and holds 4,855,776 common shares of Jaguar Mining Inc., a gold producing company listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . The statements that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involving known and unknown risks and uncertainties, which could cause actual results to vary considerably from these statements. Readers are cautioned not to put undue reliance on forward-looking statements. BRAZILIAN's and Jaguar'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 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 or an applicable exemption from the registration requirements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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