<\/p>\n\n\n\n
Dear NMC Shareholders,<\/p>\n\n\n\n
NMC is pleased to announce that it has entered into an agreement to sell its holdings in MINERALRITE Corporation, which it has maintained in an effort to accelerate value realization and cash distributions for you, our shareholders.<\/p>\n\n\n\n
This decision was made after careful consideration of several factors, including the extended delays MINERALRITE experienced at the hands of various governmental bodies and regulators, as well as broader capital market conditions that have impacted timing and uncertainty. While we continue to recognize the long-term potential of the underlying MINERALRITE position, the NMC Board determined that an expedited liquidity event represents the most prudent course of action for maximizing near- to intermediate-term shareholder benefit.<\/p>\n\n\n\n
In pursuit of this objective, NMC communicated its desire to monetize its position to a longtime associate, Abstract Holdings 1618, LLC (\u201cBuyer\u201d and subsidiary of Abstract Concepts 1618, LLC the ultimate parent entity), who is also a MINERALRITE shareholder. Following extensive negotiations, that associate agreed to liquidate other corporate holdings to facilitate the acquisition of NMC\u2019s full position in MINERALRITE.<\/p>\n\n\n\n
As a result, NMC\u2019s CEO, Michael Sheppard successfully negotiated and its Directors approved the sale of its MINERALRITE Preferred Shares, warrants, and associated rights for a total transaction value of $250,000,000 USD, a value of approximately $0.036 per NMC share. This represents an approximate value increase of nearly $70,000,000 USD above prior basis of $0.025, delivering what the Board believes to be a significant appreciation event for NMC shareholders.<\/p>\n\n\n\n
To administer this process, NMC, in collaboration with the Buyer, will establish the NMC Terminating Distribution Trust, which will receive liquidation proceeds and serve as the formal trustee vehicle for shareholder redemption of their provable shares. The Trust\u2019s primary purpose will be to oversee the orderly redemption of NMC shareholder positions for cash distributions.<\/p>\n\n\n\n
As part of this final distribution process, NMC, in collaboration with the Buyer, will engage a dedicated legal team to assist shareholders whose ownership positions may have been adversely impacted by brokerage, banking, or custodial mergers over prior years. This includes, by way of example, certain shareholders whose positions may have been disrupted or improperly reconciled through brokerage consolidations such as the E*Trade merger with Morgan Stanley. The legal team, in coordination with the appointed trustee, will work to reconcile DTC share counts, transfer agent records, and shareholders of record to ensure the most accurate and equitable redemption process possible.<\/p>\n\n\n\n
While this process will now begin in earnest, shareholders should understand that the establishment of the Trust, legal reconciliation, and final administrative work required prior to redemption distributions will take time.<\/p>\n\n\n\n
Nonetheless, the Board & the Buyer believes this pathway is much more likely to provide NMC shareholder\u2019s money faster than the alternative of waiting on MINERALRITE.<\/p>\n\n\n\n
Your NMC Directors view this transaction as a significant step forward in both value creation and timing efficiency for NMC shareholders. Our objective remains clear: to maximize realized value while providing a structured, legally supported pathway toward shareholder redemption.<\/p>\n\n\n\n
We appreciate your continued trust, patience, and prayers as we move through this important final phase of getting you a return on your investment.<\/p>\n\n\n\n
Michael Sheppard, CEO<\/p>\n","protected":false},"excerpt":{"rendered":"
Dear NMC Shareholders, NMC is pleased to announce that it has entered into an agreement to sell its holdings in MINERALRITE Corporation, which it has maintained in an effort to accelerate value realization and cash distributions for you, our shareholders.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2135","post","type-post","status-publish","format-standard","hentry","category-news","entry","no-media"],"_links":{"self":[{"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/posts\/2135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/comments?post=2135"}],"version-history":[{"count":2,"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/posts\/2135\/revisions"}],"predecessor-version":[{"id":2137,"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/posts\/2135\/revisions\/2137"}],"wp:attachment":[{"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/media?parent=2135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/categories?post=2135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nmcinc.com\/web\/wp-json\/wp\/v2\/tags?post=2135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}