SCOTTSDALE, Ariz., March 22, 2018 (GLOBE NEWSWIRE) -- TimefireVR, Inc. (OTCQB:TFVR) (the "Company"), d/b/a TeraForge, today announced appointing David Drake, investor and globally recognized cryptocurrency expert, to its Advisory Board. The Company has also hired its first engineer as Chief Operations Officer of mining division.
David Drake is a leader in cryptocurrency. Through his family office LDJ Capital, has acted as general partner and investor in a wide variety of funds specializing in cryptocurrency. LDJ Capital co-invests with and has relationships with institutions and family offices with substantial money under management. Mr. Drake saw the value of digital assets when everyone was avoiding it.
“After spending extensive time with Jonathan, his team and investors on their vision of the cryptocurrency industry, I am pleased today to join their Advisory Board to help with the strategic direction of the mining division. Longer term, I will help the company evaluate additional investments and M&A opportunities in the cryptocurrency space such as previously announced CryptoGram,” commented David Drake, Partner at LDJ Capital.
Jonathan Read, Chief Executive Officer of TimefireVR, d/b/a TeraForge, stated, “Adding a industry veteran with deep ties and network in cryptocurrency such as David Drake will be invaluable to the future growth of the Company. With Mr. Drake guiding our strategic direction as well as the appointment of our first mining engineer, we are immediately moving forward with our bitcoin mining operation.”
About TimefireVR Inc., d/b/a TeraForge
TimefireVR Inc., d/b/a TeraForge, is an Arizona based technology company focused on strategic investments in blockchain and cryptocurrency technologies. TeraForge is forging financial and technical innovation for blockchain enterprises through investments in tools, systems, and applications that will provide support for the blockchain and digital currency industries. TeraForge is actively seeking to acquire exciting young companies as well as pure technology teams in a variety of blockchain related fields. For more information please visit www.teraforge.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding our future growth, initiation of mining and M&A opportunities in cryptocurrency. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved, Important factors that could cause actual results to differ from those in the forward-looking statements include the Company's need for capital, the future condition of the capital markets in general and the market for microcap securities, regulatory and other developments in the markets for cryptocurrency including substantial price declines, the rising cost of electricity and computer servers used in mining, intense competition for acquisition of blockchain technology companies which may affect the purchase price and difficulties in negotiating and closing any potential acquisition including the absence of audited financial statements.. Further information on our risk factors is contained in our filings with the SEC, including the Annual Report on Form 10-K for the year ended December 31, 2016. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.