📰 Table Of Contents
Nilam Resources Acquires 24,800 Bitcoin
Nilam Resources has signed a letter of intent with Xyberdata to buy $1.70 billion worth of bitcoin amid the ongoing crypto market rally. According to Nilam Resources, Inc.’s announcement on March 25, the acquisition involves the Mauritius-based special purpose entity MindWave, which holds 24,800 Bitcoin and other digital assets.
Capital for High-Yield Projects
The acquired 24,800 Bitcoin will act as collateral for Nilam Resources to raise capital for high-yield projects. The company also plans to issue a newly authorized Preferred Class of Series C Stock at a rate discounted from current market prices.
Focus on Transparency and Sustainability
“Transparency, innovation, and sustainability define us. We prioritize clear communication, embrace cutting-edge ideas, and invest in projects with enduring social and environmental impact,” said Nilam Resources CEO Pranjali More.
New Preferred Class of Series C Stock
The acquisition details and terms will be outlined in forthcoming definitive agreements. This arrangement will grant Nilam Resources full ownership of MindWave, transforming it into a subsidiary. MindWave shareholders are set to exchange their shares for Nilam Resources’ newly authorized Preferred Shares (Class C) as a strategic equity shift.
- This new Preferred Stock Class C will offer holders conversion rights for events such as NASDAQ listings or similar liquidity opportunities, distributed proportionally among shareholders.
- Class C shares, designated as “restricted securities” under Rule 144 of the Securities Act of 1933, will be subject to certain conditions and limitations post-issuance.
Strategic Partnership with Xyberdata
“This Letter of Intent (LOI) allows our team to work in unison with some of the best minds in Fintech. The Xyberdata Ltd. team has a proven track record of strategic partnerships, acquisitions and continued support innovation for the industry,” stated Xyberdata Director Keshwarsingh Nadan.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
