Nilam Resources, Inc. entered into a Letter of Intent (LOI) with Xyberdata Ltd to acquire 100% of the ordinary shares of a special purpose entity called MindWave. The enterprise will hold 24,800 bitcoins, serving as collateral for investments in projects that generate high returns. This strategic acquisition marks an important milestone for Nilam Resources, Inc., adding over one billion dollars in digital assets to its portfolio.
Nilam Resources, Inc. (OTC PINK: NILA) announced the signing of a letter of intent (LOI) with Xyberdata Ltd to acquire 100% of the ordinary shares of a special purpose entity called MindWave. The entity will hold 24,800 bitcoins, which will serve as collateral to raise capital to invest in projects generating high returns.
Pursuant to the agreement, Nilam Resources, Inc. will issue newly authorized shares of Series C Preferred Class in exchange for 24,800 Bitcoins at a discount to current market prices. The acquisition of MindWave, a special purpose entity based in Mauritius, will bring digital assets, including 24,800 bitcoins, under the ownership of Nilam Resources, Inc. These assets will be used to raise capital for strategic investments.
The successful completion of this acquisition represents an important milestone for Nilam Resources, Inc. as it adds over one billion dollars in digital assets to its portfolio. With the current market rally and the growing recognition of Bitcoin as the “Gold Standard” for digital transactions, this acquisition is in line with Nilam Resources’ vision, mission and core values of transparency, innovation and sustainability.
Pranjali More, CEO of Nilam Resources, Inc., stated, “The company and team have been working diligently over the past few months to finalize all agreements and due diligence required to proceed with a legally binding Letter of Intent (LOI). With this transaction, we are taking a step towards a future where finance is inclusive and sustainable, driving positive change in the digital economy.”
The terms and conditions of the acquisition will be detailed in one or more definitive agreements. Nilam Resources, Inc. is expected to to acquire a 100% stake in MindWave, making it a subsidiary of the company. MindWave shareholders will exchange their equity interests for a new class of preferred stock (Class C) approved and issued by Nilam Resources, Inc.
The newly authorized preferred stock (Class C) will entitle holders to conversion rights upon a listing on NASDAQ or another national stock exchange or upon other specified liquidity events. These shares will be issued in proportion to the shareholders. All shares of Class C Preferred Stock issuable pursuant to the transactions contemplated hereby shall be deemed to be “restricted securities” as defined in Rule 144 of the Securities Act of 1933, as amended.
This strategic partnership between Nilam Resources, Inc. and Xyberdata Ltd., a leading player in global connectivity services, brings together expertise in fintech and connectivity. The collaboration aims to leverage the synergies of the two companies and drive innovation in the industry.
As the agreement progresses, Nilam Resources, Inc. will continue to work closely with Xyberdata Ltd. to ensure a smooth and successful acquisition process. The completion of this acquisition will position Nilam Resources, Inc. as a key player in the crypto market, further strengthening its portfolio and contributing to its growth.
Nilam Resources, Inc. is an investment holding that focuses on innovation and strategic evolution. With a diversified portfolio spanning various verticals including FinTech, MedTech, ClimateTech and others, the company aims to generate returns on its investments while contributing to the growth of frontier technologies and applications.
Xyberdata, formerly known as 101 Systems Ltd, is a leading global provider of connectivity services. With its extensive network spanning continents, Xyberdata ensures seamless connectivity for its customers. The company’s services are used by carriers worldwide for their business-critical operations.
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