{"id":24520,"date":"2024-03-25T21:02:57","date_gmt":"2024-03-25T21:02:57","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/03\/25\/south-american-gold-miner-nilam-resources-enters-agreement-to-acquire-24800-bitcoin\/"},"modified":"2024-03-25T21:02:57","modified_gmt":"2024-03-25T21:02:57","slug":"south-american-gold-miner-nilam-resources-enters-agreement-to-acquire-24800-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/03\/25\/south-american-gold-miner-nilam-resources-enters-agreement-to-acquire-24800-bitcoin\/","title":{"rendered":"South American Gold Miner Nilam Resources Enters Agreement to Acquire 24,800 Bitcoin"},"content":{"rendered":"<p><a href=\"http:\/\/www.southamericanmining.com\/\">Nilam Resources, Inc.<\/a>, a\u00a0precious metal mining company with principal assets in Peru,\u00a0has <a href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/03\/25\/2851986\/0\/en\/Nilam-Resources-Enters-Letters-of-Intent-to-Acquire-24-800-Bitcoin.html\">announced<\/a>\u00a0it is entering into a Letter of Intent (LOI) with Xyberdata Ltd. to acquire 24,800 bitcoin. This agreement involves acquiring 100% of the common stock of a special purpose entity named MindWave, to be established in Mauritius, which will hold the BTC along with other assets.<\/p>\n<p>JUST IN: \ud83c\uddf5\ud83c\uddea Gold mining company Nilam Resources to acquire 24,800 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> worth $1.76 billion.<\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1772359661871587807?ref_src=twsrc%5Etfw\">March 25, 2024<\/a><\/p>\n<p>\u201cNilam Resources, Inc. today announced that it has entered into a 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\u00a0Bitcoin,\u201d the announcement stated. \u201cNilam 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.\u201d<\/p>\n<p>Pranjali More, CEO of Nilam Resources, Inc., expressed enthusiasm about the agreement,\u00a0stating\u00a0\u201cThe 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).\u201d\u00a0With Bitcoin gaining recognition as the &#8220;Gold Standard&#8221; in digital transactions, per the announcement, this transaction aligns with Nilam Resources&#8217; vision of driving positive change in the digital economy.<\/p>\n<p>The terms of the acquisition will be outlined in definitive agreements, with MindWave expected to become a subsidiary of Nilam Resources, Inc. Shareholders of MindWave will exchange their equity interest for a new class of Preferred Shares (Class C) issued by NILA, offering conversion rights upon listing on NASDAQ or other liquidity events.<\/p>\n<p>\u201cThis Letter of Intent (LOI) allows our team to work in unison with some of the best minds in Fintech,\u201d said\u00a0Mr. Nadan, Director of Xyberdata Ltd.\u00a0\u201cThe Xyberdata Ltd. team has a proven track record of strategic partnerships, acquisitions and continued support innovation for the industry.\u201d<\/p>","protected":false},"excerpt":{"rendered":"<p>Nilam Resources, Inc., a\u00a0precious metal mining company with principal assets in Peru,\u00a0has announced\u00a0it is entering into a Letter of Intent (LOI) with Xyberdata Ltd. to acquire 24,800 bitcoin. This agreement involves acquiring 100% of the common stock of a special purpose entity named MindWave, to be established in Mauritius, which will hold the BTC along [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24520","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24520"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=24520"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24520\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=24520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=24520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=24520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}