SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
January 13, 2008
Date of Report
(Date of Earliest Event Reported)
Nilam Resources Inc. |
(Exact Name of Registrant as Specified in its Charter) |
Nevada | 333-135980 | 98-0487414 |
(State or other jurisdiction of | (Commission | (IRS Employer |
incorporation) | File Number) | Identification No.) |
42 Camden Street, Suite 503, Toronto, Ontario | M5V 1V1 |
(Address of principal executive offices) | (Zip Code) |
1-416-823-0915 |
(Registrant's telephone number, including area code) |
N/A |
(Former name and former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant o Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS
ITEM 1.01 Entry into a Material Definitive Agreement.
On January 13, 2008, the Company entered into a Letter of Intent with MRC 1 Explorations of Peru, to purchase the Pativilca Gold Mine (“Pativilca”). The property is located 200 km NNW of Lima, Peru, in the last western reinforcement of the western of central Andes of Peru. Politically the property belongs to the district and province of Huarmey, Anchas department. Pativilca is a mineral claim consisting of 6 major mining concessions, covering 2100 hectares. It is an operating gold mine that is currently refining approximately 50 tons of ore daily.
The terms of the Letter of Intent propose the purchase price for the Pativilca Gold Mine will be paid in cash and stock. The Corporation shall pay the seller a total of $1,500,000 (US) and two million shares of common restricted stock (at a stock price not less than $1 per share). The $1,500,000 cash is to be paid in three installments. The first installment of $250,000 shall be paid upon the execution of public deeds transferring the concessions to the Corporation. The second installment of $500,000 shall be paid four months after the initial payment. The final purchase price payment of $750,000 shall be paid ten months from the initial payment and execution of the transfers of the mining concessions. The two million purchase shares shall be issued to the seller upon the transfer of concessions, but shall be escrowed until the final purchase price is paid. Additionally, the Corporation will pay a 3% royalty fee from the net production to the seller.
The Corporation’s executive team is continuing due diligence on the Pativilca property.
ITEM 7.01 REGULATION FD DISCLOSURE
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired.
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits.
10.1 | Letter of Intent dated January 13, 2007, between Nilam Resources, Inc. and MRC 1 Explorations to acquire the Pativilca Gold Mine. |
10.2 | Preliminary Summary of Pativilca Gold Mine. |
99.1 | Press Release dated January 15, 2008. |
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this current report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 17, 2008 | Nilam Resources Inc. |
/s/ Vare Grewal | |
Mr. Vare Grewal, Director | |
Secretary, Treasurer |
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