TimefireVR Signs Letter of Intent with Cryptocurrency Terminal, Cryptogram, LLC and Enters into Material Definitive Financing Agreement with Institutional Investors
Summary
SCOTTSDALE, Ariz., March 07, 2018 (GLOBE NEWSWIRE) -- TimefireVR, Inc. (OTCQB:TFVR) (the "Company"), d/b/a TeraForge, today announced the signing of a letter of intent (‘LOI’) to make a strategic investment and acquire a license in cryptocurrency data analytics, portfolio management, trading platform, and information sharing terminal, Cryptogram, LLC.Cryptogram is a financial terminal focused on offering the cryptocurrency community access to data analytics, portfolio management, trading and facilitating the sharing of research and communication through a social network.The use of proceeds from this investment will be to expand Phase II and III, which will layer onto the platform social networking services as well as exchange and wallet capabilities.This agreement falls in line with our shift in corporate focus towards strategic investments in both cryptocurrency and cryptyocurrency support-related acquisitions, and of blockchain technologies,” stated Jonathan Read, Chief Executive Officer of TeraForge.TeraForge is actively seeking to acquire exciting young companies as well as pure technology teams in a variety of blockchain related fields.