FREDERICKSBURG, VA, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Purio, Inc. (OTC PINK: PURO) announced today a strategic partnership with a New York City based private investment fund, Tri-Bridge Ventures, LLC. The company announced today that it has received an Indication of Interest from Tri-Bridge Ventures in which TBV may purchase common stock equal to a value of up to Ten Million Dollars ($10,000,000) when PURO has qualified the necessary number of shares under Regulation A+ through an offering statement (Form 1-A). PURO intends on filing the offering statement within the next fifteen days. Regulation A+, as mandated by the JOBS Act and introduced on March 25, 2015, gives non-SEC reporting companies the ability to raise up to $50,000,000 in a 12-month period.
“Establishing a relationship with an institutional investor as a long-term partner that can see our vision, as well as understand our business plan is a huge milestone for the company, and a critical relationship for the company to implement its business model quickly and effectively,” said Spencer Payne, CEO and President of BitFrontier Capital Holdings, Inc. (F/K/A Purio, Inc.). “An investment like this will provide the capital necessary to begin construction on our cryptocurrency mining facilities and will allow the company to begin mining Bitcoins in the near future. Regulation A+ provides the company a great way to obtain the funding needed to execute our business plan, without the substantial dilution of traditional convertible loans or direct investments.”
The Company intends to up list to the OTCQB once it meets the minimum bid requirements of $0.01 for the previous 30 days. We are currently preparing audited financials for 2017 to prepare for the up list once we meet the requirements and intend to have them completed shortly and posted to OTC Markets.
Additionally, the company has appointed two more officers who will manage the day-to-day operations at the company’s cryptocurrency facilities, both of whom have extensive knowledge in the cryptocurrency industry. Andrew Karras was appointed to the role of Chief Operating Officer (“COO”) and George Storm was appointed to the role of Chief Technology Officer (“CTO”). The company is very excited to expand its team, and believes these two individuals will help the company tremendously in its cryptocurrency operations.
Additional information about BitFrontier Capital Holdings will be available soon on the Company's website at https://bitfrontiercapitalholdings.com and current updates are posted regularly on Twitter at https://twitter.com/BitFrontierInc.
About Tri-Bridge Ventures, LLC
Tri-Bridge Ventures, LLC is a New York based Institutional Investor that focuses on transactions with publicly traded companies. The firm sources, structures and executes on investments in publicly traded companies with market capitalization primarily under $250 million. The Tri-Bridge Ventures team has the experience and understanding of the public markets to identify investment opportunities as well as the ability to structure bespoke equity and debt transactions.
About BitFrontier Capital Holdings, Inc. (F/K/A Purio, Inc.)
BitFrontier Capital Holdings is a blockchain-oriented company focused on the cryptocurrency markets. We plan on expanding operations in the Bitcoin mining industry and see great potential in this rapidly expanding sector. Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new Bitcoins are released.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://otcmarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.