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Brazil Minerals BMIX
@BMIXStock
Brazil Minerals, Inc. (OTCQB: BMIX) is pleased to announce that it has no outstanding investor debt of any type since May! Great news! $BMIX #BMIX
Let’s see .02 today!
Not entirely sure on that…I do know however, last I visited the ranch they were saying that the ranch has water rights, and some had to be used to maintain it… but in general, they will be growing as efficiently as possible…
Organic Farming – Ultra Efficient
QDG is an agricultural company that specializes in state-of-the-art cannabis cultivation practices backed by academia and proven results with a long track record of success. QDG uses a propriety premium soil blend that is 100% organic living soil. This blend uses 60% less water,. 50% less fertilizer and ZERO (0) toxic pesticides, creating an ultra-efficient regenerative plant environment in strict compliance with the rules that LiveWire has established for all operators on the Ranch. QDG utilizes state of the art technology and science executed by a team of professionals with 20 years of experience.
The QDG system is proven to be cost effective and easily scalable, representing 100% organic, “tractor-less” farming.
QDG will produce marketable cannabis strains under the Estrella brand.
The CEO of Tilray mentioned on the news the other day on waiting for federal legalization to happen before they jump in…which makes sense to me, let the little guys do all the grunt work on getting things set up, licensing, contacts, agreements , various grow operations already in place, etc…. They would much rather pay more for a company at that point than take the risk right now….they may pay a few hundred million for a business here, but in turn they can make billions in the long run when it’s legal every where…
In the meantime, Bill can still grow this business huge imo… multiple locations running, trading in the dollar range, that’s where we will become more attractive to the big players imo..
Yep, for sure, the likes of Tilray will probably come when it’s federally legal… until then, Bill can continue to grow this business…
it’s looking like to me we are finally coming more into the growth stage of this company, that means our biggest gains are yet to come..… long term multi dollar range imo… which would make LVVV a prime target for a company like Tilray to scoop us up when all goes legal on a federal lvl..
Added 600k more to my stash
Good find Romans…the whole point here is they would have the funds to really get things rolling along…I don’t see any issues with that at all!
Yeah, that’s True. Lol…I just set it in the AM and forgot about it until I got the cancellation notice EOD…I will make sure to get my add in tomorrow..
Had a bid in all day for 300k shares at 0.011 and nada..
Way I see it is they should have everything buttoned up with the county in a few days, which means we can still be on track for 2 harvests this year!
That letter was dated on the 14th, that does not mean it was in the same day as the inspection was completed.. I would find it hard to believe that they came out, inspected everything, came back to the office and drafted that report all on the same day. Not as slow as they are moving out there. Plus i wasnt finding anything about the lettering on that either.. do you see it maybe?
Im thinking maybe this was something done prior, and the inspector may have just completed the report and uploaded that day in particluar. If thats the case, then it could be feasible that Thursday may have been what Bill thought as the Final Inspection but then told differently with the nitpicky shit..
CalFire visit went well today. A simple change of the address numbers from 4” to 8” tall for easier identification in case of an emergency was their only request. Done. We’ll keep you posted as we check the boxes. The farm is still on target.
LA Times
California offers $100 million to rescue its struggling legal marijuana industry
Patrick McGreevy
Mon, June 14, 2021, 7:15 PM·7 min read
CARPINTERIA, CA - MAY 06, 2019 -Marijuana growing in a steel-frame greenhouse at Brand Farms in Carpinteria at the southern end of Santa Barbara County that has allowed some of the biggest marijuana grows in the world. Lobbied by the marijuana industry, Santa Barbara County officials opened the door to big cannabis interest in the last two years like no other county in the nation, setting off a largely unregulated rush of planting in a region not previously known for the crop. (Al Seib / Los Angeles Times)
Marijuana-growing businesses would get help in meeting environmental review requirements for state licenses under a $100-million proposal by Gov. Gavin Newsom that has been supported by legislative leaders. (Al Seib / Los Angeles Times)
More
The California Legislature on Monday approved a $100-million plan to bolster California’s legal marijuana industry, which continues to struggle to compete with the large illicit pot market nearly five years after voters approved sales for recreational use.
Los Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to be provided as grants to cities and counties to help cannabis businesses transition from provisional to regular licenses.
“California voters approved Proposition 64 five years ago and entrusted the Legislature with creating a legal, well-regulated cannabis market," said Assemblyman Phil Ting (D-San Francisco), the chairman of the Assembly Budget Committee. "We have yet to reach that goal."
Many cannabis growers, retailers and manufacturers have struggled to make the transition from a provisional, temporary license to a permanent one renewed on an annual basis — a process that requires a costly, complicated and time-consuming review of the negative environmental effects involved in a business and a plan for reducing those harms.
As a result, about 82% of the state’s cannabis licensees still held provisional licenses as of April, according to the governor’s office.
The funds, including $22 million earmarked for L.A., would help cities hire experts and staff to assist businesses in completing the environmental studies and transitioning the licenses to "help legitimate businesses succeed," Ting said.
The grant program is endorsed by Los Angeles Mayor Eric Garcetti, who said in a letter to legislators that the money is “essential in supporting a well-regulated, equitable, and sustainable cannabis market."
Separately, the governor wants to give cannabis businesses a six-month extension beyond a Jan. 1 deadline to transition from provisional licenses by complying with mandates of the California Environmental Quality Act. That extension, which faces opposition for delaying promised environmental safeguards, was not included in the state budget bill approved Monday and is still being negotiated with lawmakers.
The governor’s proposal to extend provisional licenses has drawn objections from a coalition of seven environmental groups including Sierra Club California, Defenders of Wildlife and the Nature Conservancy.
They said in a letter to Newsom that the proposal allowing the extension of provisional licenses and interim alternatives to CEQA rules goes against what voters were promised and is “wholly inadequate to protect local communities and the environment.”
At the same time, industry officials say the governor’s proposals do not go far enough in helping businesses struggling to stay open with provisional licenses while meeting what they see as burdensome rules under the state’s environmental regulations.
“It is a significant amount of money, but I don’t know that it actually answers the problem of provisional licenses making it through CEQA analysis in a timely manner to get an annual license,” said Jerred Kiloh, president of the United Cannabis Business Assn.
He said delays in cities adopting rules, their limited staffing and lack of resources by cannabis firms mean some face two to four years to get through the licensing process. Many would face the prospect of shutting down, at least temporarily, if they don't get a regular license by current state deadlines, Kiloh said.
California voters paved the way for state licensing of cannabis stores, farms, distributors and testing when they approved Proposition 64 in 2016. State officials initially expected to license as many as 6,000 cannabis shops in the first few years, but permits have been issued only for 1,086 retail and delivery firms.
In 2019, industry officials estimated there were nearly three times as many unlicensed businesses as ones with state permits. Although some industry leaders believe enforcement has reduced the number of illegal pot shops, a study in September by USC researchers estimated unlicensed retailers still outnumbered those that were licensed.
Supporters of legalization blame the discrepancy on problems that they say include high taxes on licensed businesses, burdensome regulations and the decision of about three-quarters of cities in California not to allow cannabis retailers in their jurisdictions.
The bill approved by the Legislature on Monday includes $100 million and identifies 17 cities and counties earmarked to receive grants, including Los Angeles, which would get the largest grant. Other cities that will get grants include Long Beach, San Francisco, Oakland, Commerce, Adelanto and Desert Hot Springs.
Originally, pot businesses were supposed to transfer from temporary licenses to regular annual licenses by 2019, but many businesses were unable to comply in time, so the state allowed provisional licenses until Jan. 1, 2020, and then extended the deadline again to Jan. 1, 2022.
A key requirement to convert from a provisional license is to conduct a CEQA review to indicate how pot farms and other cannabis businesses will affect the surrounding water, air, plants and wildlife, and to propose ways to mitigate any harms.
However, Kiloh said, some cities are just setting up ordinances and staffing to process licenses, meaning many businesses cannot meet the looming deadline.
Each cannabis grower must provide evidence that they met the requirements for environmental review. If their city and county do not provide the required document, the applicants must prepare one, which often means hiring environmental consultants.
A bill by state Sen. Anna Caballero (D-Salinas) would have allowed the state to extend provisional licenses six years until 2028, but she shelved it after it drew opposition from the coalition of environmental groups.
The groups sent a letter to lawmakers saying that the bill "does not provide adequate environmental protection.”
The governor’s proposal, which is being considered by lawmakers, would allow the extension of existing provisional licenses by six months.
Environmentalists still hope the budget trailer bill can be changed to address their concerns, according to Pamela Flick, California program director of Defenders of Wildlife.
The group “opposes the proposed trailer bill language because it needs stronger environmental protections consistent with the original commitments made in Proposition 64, in which the voters intended meaningful and timely compliance" with environmental laws, Flick said.
The Newsom administration is warning of dire consequences if pot businesses are not given more time to get a regular license.
“Absent this extension, it is possible that a significant number of these licensees could fall out of the legal cannabis system, significantly curtailing the state’s efforts to facilitate the transition to a legal and well-regulated market,” the administration warned in its budget proposal.
The $100 million would go to local agencies with the most provisional licenses for growing, manufacturing, distribution, testing and retail operations. Some of the money can be used by cities offering equity funding to cannabis businesses owned by people of color.
Lawmakers welcomed the budget proposal from Newsom, who has an interest in seeing the legal market succeed because he was a leading proponent of Proposition 64.
“Gov. Newsom is dedicated to the success of the legal cannabis industry in California,” said Nicole Elliott, the governor’s senior advisor on cannabis. “The purpose of this one-time $100 million in grant funding is to aid locals and provisional licensees, many of which are small businesses, legacy operators and equity applicants, in more expeditiously migrating to annual licensure.”
Garcetti said in his letter that it will help Los Angeles "in creating a robust CEQA compliance program and comprehensive assistance programs to aid licensees in meeting annual licensure requirements."
However, industry officials note the money will go to a small fraction of California cities, and only those that have already decided to allow cannabis businesses.
“It’s not incentivizing localities who have cannabis bans to get their ordinances up and running,” said Kiloh, owner of the Higher Path cannabis store in Sherman Oaks.
“The real problem is CEQA analysis is a very arduous process,” he added. “I think it would be good to have more reform of the licensing system instead of just putting money to it.”
Its still in play im sure, and something we will see more of in the future... The costs for that is real expensive and with Bill running everything on the bare minimums it looks like he may have either put this on the back burner for now, or has been working on it behind the scenes possibly. Not sure tbo either way. I did send him an email however asking if all these growing now will get the 7x Pure Tags on them.. good branding opportunity imo.
Estrella River Farms Licensed by CalCannabis and now
Credentialed inside the California Track-and-Trace System
Paso Robles, CA, June 7, 2021 -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted and organically grown cannabis products for medical and recreational adult-use in California, today announced that its affiliate Estrella River Farms has now been credentialed inside the State of California Track-and-Trace System, after it has already been licensed by CalCannabis Cultivation Licensing.
The California Cannabis Track-and-Trace (CCTT) system is being used statewide to record the inventory and movement of cannabis and cannabis products through the commercial cannabis supply chain. This system must be used by all annual and provisional cannabis licensees, including those with licenses for cannabis cultivation, manufacturing, retail, distribution, testing labs, and micro businesses.
Hodson states: "As we had announced earlier, Estrella River Farms (ERF) has received approval for outdoor cannabis cultivation from CalCannabis Cultivation Licensing. Since ERF has now also been credentialed for Track-and-Trace, it will begin to officially create the world’s first Estate Grown Weedery ™ for the cultivation of organically grown, hand-crafted cannabis, once the final inspection by the County has been successfully concluded this week . Estrella Ranch was previously owned by the King of Morocco and later by the eldest grandson of William Randolph Hearst and is now considered the crown jewel of California cannabis properties, located in the heart of the Central Coast wine country - ideal for growing premium organic outdoor flower. The goal is for the crop and its branding to comply with, and be protected by, the CDFA’s Cannabis Appellations Program when their requirements are finalized."
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ABOUT LIVEWIRE ERGOGENICS INC
LiveWire Ergogenics, Inc. (LVVV) specializes in identifying and monetizing current and future trends in the human and veterinary health and wellness industry. The Company is focused on acquiring, managing, and licensing special purpose cannabis real estate properties, associated permits, and intellectual properties conducive to producing high-quality handcrafted cannabis products for medicinal and recreational use in California. This includes the cultivation, licensing and creation of the high-quality "Estrella Weedery" brand and the state-wide distribution of these products throughout California. LiveWire Ergogenics does not produce, sell, or distribute products that are in violation of the United States Controlled Substance Act. For more information, please visit: LiveWireErgogenics.com
Asia Broadband Inc.’s (AABB) Strong Q1 2021 Balance Sheet Sets Foundation for Robust Performance, Fulfillment of Strategic Goal
June 4, 2021
Asia Broadband recently released Q1 2021 results featuring a strong balance sheet as indicated by over $100 million in total assets, an increase of 283% from a similar period last year
The results signal AABB’s highly liquid position to fully fund and rapidly grow its gold mining and cryptocurrency operations
AABB intends to acquire high-yield gold mining assets to increase its physical gold holdings
AABB recently hired a marketing firm to design an international marketing campaign to be rolled out in May
Asia Broadband (OTC: AABB), a company that utilizes its specific geographic expertise, experience, and extensive industry contacts to facilitate its innovative distribution process from the production and supply of base and precious metals in Mexico to its client sales networks in Asia, recently published its Q1 2021 results, featuring positives, including a highly liquid financial position, that set a strong foundation for growth in 2021 (https://ibn.fm/1nVtj).
As part of the published Q1 2021 results for the three months ending March 31, 2021, AABB’s balance sheet featured $106.4 million in total assets, compared to $27.8 million reported for Q1 2020 and a total of $48.7 million reported for the FY 2020, marking a 283% and a 119% increase, respectively. According to AABB’s disclosure (https://ibn.fm/N7lLb), the company had $72.0 million in cash, $30.0 million in physical gold holdings, and $2.2 million in mining properties, licenses, and concessions.
Other notable assets included the value of property, plant, and equipment ($867,302), as well as earnings from the sale of AABB Gold token (“AABBG”), its digital currency backed 100% by the physical gold holdings indicated in the balance sheet.
The figures provide the necessary encouragement and funding for the company to advance its gold mining and cryptocurrency operations and plans.
On the gold mining front, AABB began assessing and negotiating gold mining projects during the first quarter of the year with the aim of acquiring high-yield mining and production facilities.
It is currently eying two such properties in the prolific gold mining regions of Mascota and Acaponeta in Mexico (https://ibn.fm/5XnYW) and intends to accelerate the acquisition after completing drill testing, assays, and other due diligence processes. The properties, which have multiple mining sites, existing infrastructure, and production facilities capable of processing 250 tons of gold per day between them, will bring the company closer to fulfilling its strategic growth initiative to increase its physical gold holdings.
The increase in physical gold holdings should strengthen Asia Broadband’s cryptocurrency operations as the company launched AABBG and AABB Wallet – both developed in collaboration with Core State Holdings Corp. (“CSHC”) – back in March. So far, Asia Broadband has accumulated $1.5 million from the sale of AABBG and has hired a marketing company to design an international marketing campaign.
Geared towards increasing brand exposure, token sales, and AABB Wallet transactions, as well as boosting the public’s and investment community’s awareness of the company, the campaign will kick off towards the end of May and is expected to gather momentum over the subsequent three months.
Moreover, CSHC is developing AABB’s proprietary exchange that, once completed and launched in the coming months, will allow AABB Wallet users to exchange their AABBG tokens for other cryptocurrencies such as Ethereum, Bitcoin, and Litecoin. In addition to facilitating such trades, the exchange will add significantly to the transaction fee revenues AABB already generates from its AABB Wallet and allow market forces to dictate the price of the AABBG above the minimum supported price for each token, which is equivalent to the real-time value, in dollars, of 0.1 gram of gold.
As a company that is on course to fulfill its strategic goal and initiative, Asia Broadband appears poised to experience tremendous growth and performance through the remainder of 2021, guided by the successes captured in its Q1 2021 results.
For more information, visit the company’s website at www.AsiaBroadbandInc.com.
Bill may be somewhat hesitant, or even limit any photos or videos being taken of their operation there.. Im quite sure there are LOTS of potential people with bad intentions that wouldn't think twice of hitting that place up once those plants are in full bloom budding. Security has to be a big thing there im sure to keep all that protected and contained.
Nice bounce happening here.. Could this be the turn were looking for? Multi Days of gains? Sure does look like it! We will most likely be seeing plants in the ground in just a few weeks! I for one am getting excited to see this business finally unfold! LETS GO BILL!!
Looks like this is going straight back up and will be a sustained run, just an awesome run
If this volume continues we may be hitting over .02 today imo
12 mil in volume already, we can still see a bounce to the upside here..
WoW! That’s some volume! 65mil?? Holy crap! LoL.
ERF will be in an ideal position to easily scale up cultivation to maximum capacity of the total available acreage, providing growth potential for years to come. The Company has already established multiple relationships with large distributors to enter into supply agreements, assuring immediate utilization of several well-established distribution channels.
“Estrella Ranch was previously owned by the King of Morocco and later by the eldest grandson of William Randolph Hearst and is now considered the crown jewel of California cannabis properties, located in the heart of the Central Coast wine country - ideal for growing premium organic outdoor flower. The goal is for the crop and its branding to comply with, and be protected by, the CDFA’s Cannabis Appellations Program when their requirements are finalized,”
BRAZIL MINERALS UPLISTS TO OTCQB
BELO HORIZONTE, BRAZIL--(June 1, 2021) - Brazil Minerals, Inc. (OTCQB: BMIX) (the "Company" or "Brazil Minerals"), the Strategic Mineral Resources Company for the Green Energy Revolution, is pleased to announce that as of today its common shares have moved up from OTC Pink and are now traded in the OTCQB® Venture Market (the “OTCQB”) operated by OTC Markets Group, Inc.
Marc Fogassa, Chairman and CEO of Brazil Minerals, commented, “Moving up to OTCQB is a highly significant milestone and we are very honored that our application was approved. In the last several months, we have substantially strengthened our asset base with projects in critical strategic minerals, including hard-rock lithium. Additionally, we have significantly strengthened our balance sheet by eliminating all third-party convertible debt. We look forward to continued momentum going forward.”
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX) is an exploration company with two hard-rock lithium projects, as well as projects in other strategic minerals including rare earths, titanium, nickel and cobalt. In addition, Brazil Minerals owns a majority stake in Apollo Resources Corp., a private company developing its first iron mine, and a minority stake in Jupiter Gold Corporation (OTCQB: JUPGF), which is developing two large gold projects and a quartzite mine. Brazil Minerals is well-positioned in the growing ESG space. Follow us on Twitter: @BMIXstock.
AABB has gold. Always has. The mine they "hold" is truth, there was a mine, there was gold production.
Time for investors to start investing.
Big LVVV License and Business startup coming. LVVV CEO Bill Hodson will most definitely get a California State cannabis cultivation license for Estrella River Farms LLC to grow cannabis on the property.
9 million shares sold was 9 million shares also bought... can’t sell if nobody is buying...our time is coming imo.
How many of those are in Paso Robles....every county/city has their own set of rules and hurdles to overcome...
Exactly, people can cry and b#%ch all they want, but this business is still moving forward.. .10+ coming our way imo!
I for one ABSOLUTELY blame the state of CA for this delay.. Its ridiculous the process one has to go thru to get a license there, A state that is well known for the amount of RIDICULOUS regulation it has is almost paralyzing, even more so for where he is trying to set up.. ..
Bill is not some BIG corporation with billions of dollars either mind you, he has been doing this with limited capital the entire time, and quite frankly, he has come a LONG WAY imo..
The way i see it, we just need the final doc from Fish and Wildlife, and OK to proceed which is all out of their control.. im sure they have seeds, clones, and teens on standby ready to go.. So Hopefully they get the approval A S A P, so we can get growing!! We will be rewarded for our patience IMHO
Pot Companies’ Hunt for New Markets Heats Up
Livewire Ergogenics (OTC:LVVV) First Mover Advantage
By Stockwatchindex Chief Analyst - Rainer Poertner- May 24, 2021
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Big cannabis acquisitions are on the rise again and expansion driven by SPACs seems the favorite color of the month (maybe the year?). SPACs went from relative obscurity in early 2020 to the financial equivalent of celebrity status in 2021, alongside short squeezes, bitcoin, and crowdsource-sentiment algorithms underlying the buzziest cannabis exchange-traded funds. Everybody is hunting for new pot markets.
This time, the hunt for new markets seems to be different though for the few that are not drawn into this new craze and do no follow the blind rush to find the pot of gold at the end of any cannabis operation; the bigger your operation the better your chances for success?
As cannabis legalization and acceptance spreads throughout the Country, there is actually less and less virgin cannabis territory to conquer. Companies that have long been diligently conducting their research and worked hard to comply with all State and local laws and the complex environmental rules and regulations of the California permit application process, are now presented with a “first-mover” advantage. The intrinsic value of a successful cannabis company today is how management has been able to maneuver this complex process and established the company to operate legally. We have asked the CEO of Livewire Ergogenics, Inc. (OTC:LVVV), Bill Hodson, to explain his company's approach and plan.
Mr. Hodson states, “From the beginning we were not interested in establishing as many locations as possible, but instead carefully selecting the ideal location for our large and ambitious project in Paso Robles to cultivate the best organic cannabis in the Country, grown under an ideal microclimate. I say ambitious, because California has most likely the most stringent environmental rules in the Country and the legal maze is complicated to navigate, to say the least.”
Mr. Hodson continues: "This very involved process has been complicated by the fact that in California, there are quite a few different agencies involved in the permitting process, from the state all the way to the local level, and there is not one standard platform yet for the coordination or standardization of the process between these agencies. Only now, the CA Governor is proposing to combine three of the leading agencies into one, the California Department of Cannabis Control. This change is expected to create one central administrative portal that should result in an expedited process for all applicants. The potential drawback: setup of this new agency and synchronization of all efforts may not be effective immediately for all applicants. Fortunately, our affiliate company Estrella River Farms, the cultivator on Estrella Ranch, is one of the "first movers" and is already at the tail end of the application process for its large outdoor cultivation that was started roughly twenty months ago. Accordingly, we expect to be one of the few companies in central California, and San Luis Obispo County specifically, to assist in the conclusion of the process in the very near future, before this new central agency is fully operational."
California Governor proposes $100m Grant
to ease Cannabis Licensing Issues
Alleviate a bureaucratic Logjam
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L.A. CANNABIS NEWS
California Gov. Gavin Newsom announced Friday his new state budget proposal – called the California Comeback Plan – will include $100 million to alleviate a bureaucratic logjam that has left thousands of marijuana companies with so-called “provisional” business licenses in danger of shuttering at least temporarily.
To give marijuana growers, retailers and other companies breathing room, Newsom also plans to introduce a trailer bill to allow regulators to issue provisional cannabis business permits for an added six months, until June 30, 2022.
The two moves take aim at a growing problem tied to the provisional licenses, which at some point must be converted to more permanent “annual” licenses.
That process has been delayed for years by red tape, complicated environmental regulations and a patchwork of differing local industry ordinances.
As a result, more than 80% of the state’s marijuana business licenses could be in jeopardy of closing in 2022 – at least temporarily – unless the provisional licensing issue is resolved.
State regulators currently lack the legal power to extend provisional licenses after Dec. 31.
The $100 million in grant monies would be doled out to cities and counties to help local officials process the backlog of provisional licenses awaiting approval to secure the mandatory annual permit.
According to the Newsom administration, the money would be divided among “jurisdictions with high numbers of provisional licenses across the supply chain” in order to deliver the biggest impact for the industry.
As of March, there were a total of 9,950 active cannabis licenses, and roughly 83% of those – or 8,280 – were operating on provisional licenses versus the annual permits.
A large part of the delays in getting provisionally licensed companies transferred to annual permits is the California Environmental Quality Act.
CEQA, as the law is known, has proved time-consuming for companies to comply with as well as for city and county authorities to process applications and ensure they’ve completed all necessary requirements.
“This grant funding aims to serve local governments and a significant portion of the provisional license population, including a number of small businesses and equity operators,” Nicole Elliott, the governor’s senior adviser on cannabis, said in a statement.
“We are committed to maintaining stability across the cannabis supply chain, supporting our local partners, and transitioning provisional licenses into annual licensure more swiftly, without sacrificing California’s environmental commitments.”
To Read The Rest Of This Article By John Schroyer on Marijuana Business Daily
CLICK HERE
“You must keep your Mind on the Objective, not the Obstacle.” - William Randolph Hearst
News
BRAZIL MINERALS EXTINGUISHES ITS LAST CONVERTIBLE NOTE AND NOW HAS ZERO OUTSTANDING DEBT OF ANY TYPE
BELO HORIZONTE, BRAZIL--(May 10, 2021) - Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals"), the Strategic Mineral Resources Company for the Green Energy Revolution, is pleased to announce that it now has no outstanding investor debt of any type.
This news has also been reported on a Form 8-K filed today with the Securities and Exchange Commission. Brazil Minerals has already announced that its Bylaws have been changed to prohibit the Company from issuing any variable convertible debt again.
On May 7, 2021, Brazil Minerals paid $276,391 in cash to GW Holdings Group LLC to repurchase and extinguish the last convertible debt held by such fund in the Company. The day before, May 6, 2021, a private trust converted the outstanding principal and accrued interest on the convertible note it held into Brazil Minerals’ common stock. The trust is interested in the long-term success of the Company, and has been a shareholder for several years.
Marc Fogassa, CEO of Brazil Minerals, stated, “It is very rare for a company in our stage to not only completely eliminate investor debt, but also to prohibit any future financing from variable-rate convertible debt. In my opinion, these actions will prove to be highly positive to our shareholders over time.”
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) is a lithium company with two 100%-owned hard-rock lithium projects in Brazil totaling over 80,000 acres. The Company also has full ownership of projects in other strategic minerals such rare earths, titanium, nickel and cobalt. Additionally, Brazil Minerals owns a majority-stake in Apollo Resources Corp., a private company developing its first iron mine, and a minority-stake in Jupiter Gold Corporation (OTCQB: JUPGF), which is developing two gold projects and a quartzite mine. Brazil Minerals is well positioned in the growing ESG space. Follow us on Twitter: @BMIXstock.