Brazil Gold Corporation (OTCPK:BRZG) announced a private placement of common shares and promissory note for gross proceeds of $5,025,000 on April 7, 2014. The company will issue common shares for gross proceeds of $5,000,000 and one promissory note for gross proceeds of $25,000. The company will issue common shares at a price equal to 90% of the lowest closing price of the company's common stock on any trading day during the ten trading days immediately following the clearing date associated with the applicable put notice. The transaction will include participation from existing investor ASC Recap LLC. The note will mature in six months from issuance date.

On the same date, the company issued a promissory note to the investor for proceeds of $25,000 in its first tranche close.