Brazil Minerals, a battery metal exploration and mining company with properties in Brazil, filed on Friday with the SEC to raise up to $17 million in an initial public offering. The company is currently listed on the OTCQB (BMIX).
Because the company plans to offer units with warrants attached, Brazil Minerals will be excluded from Renaissance Capital's 2022 IPO stats.
Brazil Minerals is a US mineral exploration and mining company with projects and properties in essentially all battery metals, including lithium, rare earths, nickel, cobalt, graphite, and titanium. All of its mineral projects and properties are located in Brazil. The company's current focus is on developing its hard-rock lithium project. It also participate in iron, gold, and quartzite projects through subsidiaries, and owns multiple mining concessions for gold, diamond, and industrial sand. Brazil Minerals has generated a small amount of revenues from the sales of gold and diamonds, it has not realized any revenues to date from the sale of strategic minerals and battery metals or iron.
The Belo Horizonte, Brazil-based company was founded in 2011 and plans to list on the Nasdaq under the symbol BMIX. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
