Nilam Resources has recently entered into a letter of intent with Xyberdata to purchase $1.70 billion worth of bitcoin during the current rally in the crypto market. The acquisition involves a Mauritius-based special purpose entity called MindWave, which holds 24,800 Bitcoin as well as other digital assets. This acquisition is intended to serve as collateral for Nilam Resources to raise capital for high-yield projects, and the company plans to issue a newly authorized Preferred Class of Series C Stock at a discounted rate from current market prices.
Nilam Resources CEO Pranjali More expressed the company’s commitment to transparency, innovation, and sustainability, emphasizing its focus on creating a more inclusive, sustainable, and transparent economy. The company has been working diligently over the past several months to finalize all necessary agreements and due diligence to move forward with a legally binding Letter of Intent. This acquisition would position Nilam Resources’ assets at a valuation exceeding one billion USD, reflecting the growing recognition of Bitcoin in financial markets.
The specific terms and details of the acquisition will be outlined in definitive agreements to be signed in the future. As part of this arrangement, Nilam Resources will gain full ownership of MindWave, which will become a subsidiary of the company. Shareholders of MindWave are expected to exchange their shares for Nilam Resources’ newly authorized Preferred Shares (Class C) as part of a strategic equity shift. These new Preferred Stock Class C shares will provide holders with conversion rights in the event of milestones such as NASDAQ listings or other liquidity opportunities.
The newly authorized Class C shares will be designated as “restricted securities” under Rule 144 of the Securities Act of 1933 and will be subject to certain conditions and limitations post-issuance. This strategic acquisition will allow Nilam Resources to leverage the expertise and track record of Xyberdata Ltd., a company known for its strategic partnerships, acquisitions, and support for innovation in the Fintech industry. By partnering with Xyberdata, Nilam Resources aims to further enhance its position in the market and drive growth through innovative financial strategies and investments.
Overall, the acquisition of 24,800 Bitcoin and other digital assets by Nilam Resources represents a significant strategic move to capitalize on the current crypto market rally and position the company for future growth and success. Through this acquisition, Nilam Resources plans to raise capital for high-yield projects, issue new Preferred Class of Series C Stock, and expand its presence in the digital asset space. The company’s commitment to transparency, sustainability, and innovation underscores its long-term vision for creating enduring social and environmental impact through its financial activities. With the support of Xyberdata and other strategic partners, Nilam Resources is poised for continued growth and success in the rapidly evolving digital economy.
