Summary
TLDR: Nilam Resources, Inc. is entering into a Letter of Intent with Xyberdata Ltd. to acquire 24,800 bitcoin through a special purpose entity named MindWave in Mauritius. The agreement involves issuing a new class of Preferred Class of Series C Stock in exchange for the bitcoin at a discounted rate. The acquisition aligns with Nilam Resources’ vision of driving positive change in the digital economy. Shareholders of MindWave will exchange their equity interest for new Preferred Shares issued by Nilam Resources.
Key Points
1. Nilam Resources, Inc. is entering into a Letter of Intent with Xyberdata Ltd. to acquire 24,800 bitcoins through a special purpose entity named MindWave established in Mauritius.
2. The agreement involves Nilam Resources issuing a newly authorized Preferred Class of Series C Stock in exchange for the bitcoins at a discounted rate relative to current market prices.
3. The terms of the acquisition will be outlined in definitive agreements, with MindWave expected to become a subsidiary of Nilam Resources, Inc., offering shareholders conversion rights upon listing on NASDAQ or other liquidity events.