BRAZIL MINERALS, INC.
Exhibit 10.20
000 Xxxxx Xxxx Xxxxxx, Xxxxx 000
Pasadena, California 91101
September 30, 2015
Xx. Xxxxxxx X. Xxxxxx
[address]
Dear Xx. Xxxxxx:
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 your agreement that BMIX is simultaneously herewith issuing to you 50 (fifty) shares of its Series B Preferred Stock, each with an issuance price of $1,000 per share, in exchange for, and in full satisfaction of, the Note. A copy of the Certificate of Designations, Preferences, and Rights of the Series B Preferred Stock of BMIX is attached hereto as Exhibit B.
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,
By: /s/ Xxxx Xxxxxxx
Xxxx Xxxxxxx, Chief Executive Officer
AGREED TO:
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Exhibit 10.20 -- Page 1
