Sapphire Resources, Inc. has entered into a letter of intent (LOI) with Zyberdata Limited to acquire 100% of the common stock of a special purpose entity called Mindwave. The entity will hold 24,800 Bitcoins, which will serve as collateral for investments in high-yield generating projects. This strategic acquisition of Sapphire Resources, Inc. This is a significant milestone for , which has added over a billion dollars of digital assets to its portfolio.
Sapphire Resources, Inc. (OTC Pink: NILA) has announced the entry into a letter of intent (LOI) with Zyberdata Ltd. to acquire 100% of the common stock 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 high-yield generating projects.
Under the agreement, Sapphire Resources, Inc. Will issue a new authorized preferred class of Series C stock in exchange for 24,800 Bitcoin at a discounted rate relative to current market prices. The acquisition of Mindwave, a Mauritius-based special purpose vehicle, will bring digital assets including 24,800 bitcoins into the ownership of Sapphire Resources Inc. These assets will be used to raise capital for strategic investments.
The successful completion of this acquisition brings Sapphire Resources, Inc. represents a significant milestone for , as it adds over a billion dollars of digital assets to its portfolio. With the current market rally and growing recognition of Bitcoin as the “gold standard” for digital transactions, this acquisition aligns with Sapphire Resources’ vision, mission and core values of transparency, innovation and sustainability.
Sapphire Resources, Inc. Pranjali More, CEO, said, “The company and team have been working diligently over the past several months to finalize all agreements and conduct the necessary due diligence to move forward on a legally binding Letter of Intent (LOI). ” Transactions, we are taking steps towards a future where finance is inclusive and sustainable, driving positive change in the digital economy.”
The terms and provisions of the acquisition will be detailed in one or more definitive agreements. It is expected that Sapphire Resources, Inc. It will acquire 100% stake in Mindwave, making it a subsidiary of the company. MindWave shareholders will exchange their equity interest for a new class of preferred shares (Class C) authorized and issued by Sapphire Resources, Inc.
The new authorized preferred stock (Class C) will entitle holders to conversion rights upon listing on NASDAQ or another national exchange or other defined liquidity events. These shares will be issued to the shareholders on pro-rata basis. All shares of Preferred Stock Class C issued pursuant to the transactions contemplated hereby will be deemed “restricted securities” as defined in Rule 144 under the Securities Act of 1933, as amended.
Sapphire Resources, Inc., a leading player in global connectivity services. This strategic partnership between ICICI Bank and Xyberdata Limited brings together expertise in fintech and connectivity. The collaboration aims to leverage the synergy of both the companies and promote innovation in the industry.
As the agreement progresses, Sapphire Resources, Inc. Will continue to work closely with Zyberdata Limited to ensure a smooth and successful acquisition process. The completion of this acquisition will result in Sapphire Resources, Inc. Will be established as a major player in the crypto market, which will further strengthen its portfolio and contribute to its growth.
Sapphire Resources, Inc. is an investment holding company that focuses on innovation and strategic development. With a diverse portfolio spanning various sectors including fintech, medtech, climatetech and others, the company aims to generate returns on its investments while contributing to the development of cutting-edge technologies and applications.
Xyberdata, formerly known as 101 Systems Ltd., is a leading global connectivity services provider. With its extensive network spanning continents, Xyberdata ensures seamless connectivity to its customers. The company’s services are relied upon by carriers around the world for their business-critical operations.
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