VANCOUVER, Dec. 6, 2013 /PRNewswire/ - Brazil Resources Inc. (the "Company") (TSX-V: BRI; OTCQX: BRIZF) announced today that, as previously announced on September 30, 2013 and following the completion of its acquisition of Brazilian Gold Corporation ("BGC"), it has issued an aggregate of 243,974 common shares of the Company at a deemed price of $0.78 per share, to certain former senior officers, directors and consultants of BGC in full and final satisfaction of deferred compensation and directors fees amounting to approximately $190,000.
Pursuant to the terms of the underlying agreements, the issued shares are subject to lock-up agreements that provide for hold periods as disclosed in Brazil Resources' press release dated September 30, 2013.
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration company with a focus on the acquisition and development of projects in emerging producing gold districts in Brazil, Paraguay and other parts of South America. Currently, Brazil Resources is advancing its Cachoeira and São Jorge Gold Projects located in the State of Pará, northeastern Brazil.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Brazil Resources Inc.
Stephen Swatton, Chief Executive Officer
Patrick Obara, Chief Financial Officer
Telephone: (855) 630-1001
SOURCE Brazil Resources Inc.