Document:

Exhibit 10.15

 

STOCK PURCHASE AGREEMENT

           This Stock Purchase Agreement (this “Agreement”) is made as of August 10, 2015 by and between the persons set forth on Exhibit A attached hereto (each an “Investor” and collectively, the “Investors”) and Brazil Minerals, Inc., a Nevada corporation (the “Company”).

WHEREAS, upon the terms and conditions set forth in this Agreement, the Company proposes to issue and sell to each Investor the aggregate number of shares of common stock of the Company (the “Common Stock”) set forth opposite the name of such Investor on Exhibit A hereto for the aggregate purchase price set forth opposite the Investor’s name on Exhibit A hereto.

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

ARTICLE I 

 SALE OF SECURITIES

2.1            Sale of Securities.

Subject to the terms and conditions of this Agreement, at the Closing, each Investor agrees to purchase, and the Company agrees to issue and sell to such Investor, the number of shares of Common Stock (the “Shares” or the “Securities”) set forth opposite the name of such Investor on Exhibit A for the aggregate purchase price set forth opposite the Investor’s name on Exhibit A (the “Purchase Price”).  Each Investor shall pay the entire Purchase Price for the Securities at the Closing by check or wire transfer of immediately available funds.

ARTICLE II 

 REPRESENTATIONS AND WARRANTIES OF THE INVESTORS

Each Investor hereby represents and warrants to the Company with respect to the purchase of the Securities by such Investor as of the date of this Agreement as follows: The Investor has such knowledge and experience in financial, tax, and business matters so as to enable Investor to evaluate the risks and merits of an investment in the Common Stock. The Investor is acquiring the Securities for investment for Investor’s own account, not as a nominee or agent, and not with the view to, or for resale in connection with, any distribution thereof, nor with any present intention of distributing or selling such Securities.  The Investor is aware of the limits on resale imposed by virtue of the transaction contemplated by this Agreement and is aware that the certificates representing the Securities will bear restrictive legends.

Exhibit 10.15 -- Page 1

The Investor is financially able to bear the economic risk of an investment in the Securities, including a total loss of investment. Investor has adequate means of providing for the Investor’s current needs and has no need for liquidity in its investment in the Company and has no reason to anticipate any material change in its financial condition in the foreseeable future. The Investor understands that neither the Commission nor any other U.S. federal or state agency has reviewed the proposed offering of the Securities or made any finding or determination of fairness of the offering of the Securities or any recommendation or endorsement of such investment.

The Investor acknowledges that it has not received any information regarding the offering of the Securities or any invitation to attend any seminar or meeting held by the Company, through any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio.

No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority on the part of Investor is required in connection with (i) the execution, delivery and performance of this Agreement, (ii) the purchase of the Securities, and (iii) the consummation by the Investor of the transactions contemplated by this Agreement.

Neither the Investor nor any of the Investor’s officers, directors, employees, stockholders, agents or representatives has employed any investment banker, broker, or finder in connection with the transactions contemplated by this Agreement.

The Investor is an accredited investor as such term is defined in Rule 501(a) promulgated by the Commission under the Securities Act.

ARTICLE III

 MISCELLANEOUS

            If the Investor has held the Common Stock for six months, the Company shall assist the Investor, upon request from Investor by email and at no cost, in receiving unlegended free trading shares at the designated Investor’s broker-dealer account via DWAC transfer from the Company’s transfer agent. Among other items, the Company shall provide to the Investor a legal opinion in a form satisfactory to the Company’s transfer agent to allow such DWAC transfer.

This Agreement shall be governed in all respects by the laws of the State of California without giving effect to the conflicts of laws principles thereof. All suits, actions or proceedings arising out of, or in connection with, this Agreement or the transactions contemplated by this Agreement shall be brought in any court of competent subject matter jurisdiction sitting in Los Angeles County, California.  All of the representations and warranties made herein shall survive the execution and delivery of this Agreement until December 31, 2015. The foregoing Securities Purchase Agreement is hereby executed as of the date first above written.

 

Exhibit 10.15 -- Page 2

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

	
 

	

BRAZIL MINERALS, INC.

 

By: /s/Marc Fogassa 

Name: Marc Fogassa

Title: Chief Executive Officer

 

 

  

/s/ Benjamin Khowong

Benjamin Khowong

 

 

 

Exhibit 10.15 -- Page 3

EXHIBIT A

INVESTOR

	
Investor

	
Purchase Amount

	
Purchase Price per Share

	
Shares Purchased

 

	
Benjamin Khowong

	
$30,000

	
$0.0002

	
150,000,000

 

 

 

  

Exhibit 10.15 -- Page 4Exhibit 10.16

 

 

BRAZIL MINERALS, INC.

155 North Lake Avenue, Suite 800

Pasadena, California 91101

August 11, 2015

Carl Suter

[address]

Dear Carl:

Reference is made to the Convertible Promissory Note from Brazil Minerals, Inc. (“BMIX”) to you in the principal amount of $50,000, a copy of which is attached hereto as Exhibit A (the “Note”). This will confirm our agreement that effective immediately upon the filing with the Nevada Secretary of State of the Certificate of Designations, Preferences and Rights of the Series B Convertible Preferred Stock of BMIX, a copy of which is attached hereto as Exhibit B, BMIX shall issue to you a certificate for 50 (fifty) shares of its Series B Preferred Stock, in exchange for, and in full satisfaction of, the Note.

Please acknowledge your agreement with the foregoing by signing a copy of this letter in the space indicated below and returning the signed copy to BMIX.

Very truly yours,

BRAZIL MINERALS, INC.

By: /s/ Marc Fogassa

       Marc Fogassa, Chief Executive Officer

AGREED TO:

/s/ Carl Suter               

  Carl Suter

Exhibit 10.16 -- Page 1Exhibit 10.17

 

BRAZIL MINERALS, INC.

155 North Lake Avenue, Suite 800

Pasadena, California 91101

August 11, 2015

The 2004 Helvin Family Trust

c/o John Helvin

[address]

Dear John:

Reference is made to the Convertible Promissory Note from Brazil Minerals, Inc. (“BMIX”) to The 2004 Helvin Family Trust (“Helvin Trust”) in the principal amount of $50,000, a copy of which is attached hereto as Exhibit A (the “Note”). This will confirm our agreement that effective immediately upon the filing with the Nevada Secretary of State of the Certificate of Designations, Preferences and Rights of the Series B Convertible Preferred Stock of BMIX, a copy of which is attached hereto as Exhibit B, BMIX shall issue to the Helvin Trust a certificate for 50 (fifty) shares of its Series B Preferred Stock, in exchange for, and in full satisfaction of, the Note.

Please acknowledge your agreement with the foregoing by signing a copy of this letter in the space indicated below and returning the signed copy to BMIX.

Very truly yours,

BRAZIL MINERALS, INC.

By: /s/Marc Fogassa

       Marc Fogassa, Chief Executive Officer

AGREED TO:

/s/  Carl Suter            

  Carl Suter

 

Exhibit 10.17 -- Page 1Exhibit 10.18

 

 

BRAZIL MINERALS, INC.

155 North Lake Avenue, Suite 800

Pasadena, California 91101

August 11, 2015

Nazari & Associates International Group Inc. DB Plan

c/o Michael Nazari

[address]

Dear Michael:

Reference is made to the Convertible Promissory Note from Brazil Minerals, Inc. (“BMIX”) to the Nazari & Associates International Group Inc. DB Plan (“Nazari DB Plan”) in the principal amount of $50,000, a copy of which is attached hereto as Exhibit A (the “Note”). This will confirm our agreement that effective immediately upon the filing with the Nevada Secretary of State of the Certificate of Designations, Preferences and Rights of the Series B Convertible Preferred Stock of BMIX, a copy of which is attached hereto as Exhibit B, BMIX shall issue to the Nazari DB Plan a certificate for 50 (fifty) shares of its Series B Preferred Stock, in exchange for, and in full satisfaction of, the Note.

Please acknowledge your agreement with the foregoing by signing a copy of this letter in the space indicated below and returning the signed copy to BMIX.

Very truly yours,

BRAZIL MINERALS, INC.

By: /s/Marc Fogassa

       Marc Fogassa, Chief Executive Officer

AGREED TO:

/s/ Michael Nazari

Michael Nazari

Nazari & Associates International Group Inc. DB Plan

Exhibit 10.18 -- Page 1

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