MineralRite Corporation Acknowledges Private Transfer of Its Securities and Implementation of Governance Safeguards
Abstract Concepts 1618 LLC acquired 6.9 million shares of Series NMC Preferred Stock and 6.9 million warrants from NMC, Inc., resulting in an approximate 37% ownership stake on an as-converted basis. MineralRite entered a Shareholder Control Limitation and Standstill Agreement to cap Abstract's voting power at 45% and prohibit the entity from obtaining control or board representation.
Key figures
- Voting cap
- 45%
- Shares transferred
- 6900000
- Warrants transferred
- 6900000
- Ownership as converted
- 37%
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