Nilam Resources Enters Letters of Intent to Acquire 24,800 Bitcoin [Yahoo! Finance]
NILAM RESOURCES INC (NILA)
Company Research
Source: Yahoo! Finance
Letter of Intent (LOI) with Xyberdata Ltd to acquire 100% of the common stock of a special purpose entity, to be established under the name MindWave that will hold 24,800 Bitcoin. Nilam Resources, Inc., will issue a newly authorized Preferred Class of Series C Stock in in exchange for 24,800 Bitcoins at a discounted rate relative to current market prices. Nilam Resources, Inc. will acquire 100% of the capital stock of MindWave, a special purpose entity in Mauritius, which will hold digital assets including 24,800 Bitcoins and other assets. These assets will serve as collateral to raise capital for investment in high yield generating projects. The acquisition marks a significant strategic milestone for the Company and represents over a billion dollars in digital assets. "The Company and team have been working diligently over the last several months to finalize all agreements and due diligence necessary to proceed to a legally binding Letter of Intent (LOI)," stated Pranjali More, C
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News
- Nilam Resources, Inc. Appoints Pranjali More as Interim Chief Executive Officer, Updates the Market Regarding the Caveat Emptor Status and Mindwave Acquisition [Yahoo! Finance]Yahoo! Finance
- Nilam Resources, Inc. Appoints Pranjali More as Interim Chief Executive Officer, Updates the Market Regarding the Caveat Emptor Status and Mindwave Acquisition [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Nilam Resources, Inc. Appoints Pranjali More as Interim Chief Executive Officer, Updates the Market Regarding the Caveat Emptor Status and Mindwave AcquisitionGlobeNewswire
- Nilam Resources Enters Letters of Intent to Acquire 24,800 BitcoinGlobeNewswire