SOURCE: Grand Pacaraima Gold Corp

Grand Pacaraima Gold Corp

March 05, 2014 06:00 ET

Grand Pacaraima Gold Corp (PINKSHEETS: BITCF) Officially Changes Name to First Bitcoin Capital Corp.

VANCOUVER, BC--(Marketwired - Mar 5, 2014) - Grand Pacaraima Gold Corp (PINKSHEETS: BITCF) is pleased to announce that the board and the majority shareholders have voted and approved to change the company name from Grand Pacaraima Gold Corp. to First Bitcoin Capital Corp. to better reflect the new direction and focus of the company.

"Now that Grand Pacaraima Gold Corp. has officially changed its name to First Bitcoin Capital Corp (PINKSHEETS: BITCF), in our state of incorporation, we will request FINRA to reflect this change in the OTC Markets," the company said.

Company also announced today the appointment of Yuri Abramov to its Board of Directors. For more than three decades, Yuri has applied his superior analytical skills and expertise to advance the field of applied physics in his work as a mathematician, algorithms and software developer, engineer and inventor.

The company is currently preparing to enter the crypto-currency arena, specifically positioning itself to becoming the first vertically- integrated consolidator of the emerging Bitcoin and other crypto-currency industries.

"We expect to see the name change reflected in the stock market to coincide with the launching of one or more of our businesses under development relating to crypto-currencies," the company said.

Company is also working on a project to exchange its gold mining concessions for a new crypto currency concurrently granting it a license to use the company's pending application for a patent-making first dual currency and subsequently backed by those gold reserves.

"Should this project be successful, we intend to be the first public company to pay its shareholders a crypto currency as a dividend," the company said.

The company seeks to consolidate the Bitcoin industry by acquiring Bitcoin start-ups, raise funding and invest in companies that are developing advanced Bitcoin software or hardware applications.

About the company:

First Bitcoin Capital Corp. is a developing Canadian-based mining company currently holding concessions of Gold in Venezuela and is preparing to enter the crypto-currency industry.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "anticipates," "intends," or "expects," used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.