South American Gold Miner Nilam Resources to Acquire 24,800 Bitcoin

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.