According to PANews, South American gold miner Nilam Resources, Inc. (OTC PINK: NILA) announced that it has signed a letter of intent with Xyberdata Ltd to acquire 100% of the common shares of a special purpose entity called MindWave, which will hold 24,800 Bitcoins. (Value at current prices is over $1.7 billion). Nilam Resources will issue newly authorized preferred class Series C shares in exchange for 24,800 Bitcoins at a discount to current market prices.
Nilam Resources will acquire 100% of the share capital of MindWave, a Mauritian special purpose entity that will hold digital assets including 24,800 Bitcoin and other assets. These assets will be used as collateral to raise funds for investment in high-yield power generation projects. The transaction brings assets worth more than $1 billion to Nilam Resources.
