Brazil Resources Financing
Brazil Resources Inc., Corporation just released form D for $8.28 million equity financing. This is a new filing. Brazil Resources was able to sell $4.87 million so far. That is 58.82% of the fundraising. The total offering amount was $8.28 million. The form was filed on 2016-11-17. The reason for the financing was: US dollar amounts in this filing were converted from Canadian dollars at Bank of Canada noon exchange rates in effect on closing dates. Total Remaining to be Sold is the amount the issuer may receive upon exercise of all warrants sold in the offering.. The fundraising still has about $3.41 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Brazil Resources is based in British Columbia – Canada. The firm’s business is not disclosed. The SEC form was filed by Pat Obara Chief Financial Officer and Secretary. The company was incorporated more than five years ago. The filler’s address is: 1030 West Georgia Street, Suite 1830, Vancouver, A1, British Columbia, Canada, V6e 2Y3. Amir Adnani is the related person in the form and it has address: 1030 West Georgia Street, Suite 1830, Vancouver, A1, British Columbia, Canada, V6e 2Y3. Link to Brazil Resources Filing: 000153884716000005.
Analysis of Brazil Resources Offering
On average, startups in the not disclosed sector, sell 67.77% of the total offering amount. Brazil Resources sold 58.82% of the offering. The fundraising is still open. The average investment size for companies in all industries in our database is $3.05 million. The total amount raised is 59.77% bigger than the average for companies in the database. The minimum investment for this offering is set at $0. If you know more about the reasons for the fundraising, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For Brazil Resources Also
The Form D signed by Pat Obara might help Brazil Resources Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.
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