VANCOUVER, BC--(Marketwired - Jan 13, 2014) - Grand Pacaraima Gold Corp (PINKSHEETS: BITC) today announced that it is changing its name to First Bitcoin Capital Corp as it prepares to enter booming BITCOIN markets.
In preparation for moving into this new field of endeavor to consolidate these industries, the company changed its symbol to BITC. Company began trading under new symbol on December 27, 2013.
"We decided to make this change to better reflect the activities of our company. Also, we believe the Company is now positioned to aggressively pursue crypto-currencies and Bitcoin opportunities, and think it is appropriate that the Company do so under this new name. We expect to have confirmation today of the reserved name change to First BITCoin Capital Corp. Between this new name and symbol we expect to be the first public company to enter this space exclusively," said Chairman S. Rubin. The prior name change to Embassy Oil was first reversed as a past acquisition was not consummated.
Rubin continued, "We have acquired intellectual properties including a number of URLs that we intend to capitalize on, such as: www.coinqx.com to serve as a unique, universal exchange, www.otccoin.com to serve as a new dual crypto currency for which we are filing a provisional patent, www.icin.cc which will serve as the international coin identifier numbering system for all crypto and e-currencies."
The company's accountant is in the process of preparing year-end financial statements covering 2012 and 2013 which will bring the company into compliance with OTC Markets and expects to have these published within the coming week. These statements should substantially be similar to the 2010 financials, however, we intend to write off our oil and gas assets and write down our gold mining claims with nominal expenses during the past 3 years and no change in shares outstanding.
The company denounces the rumors spreading about its executives owning over 500,000 bitcoins and wishes to make it clear that there is no association between BITC and the Winklevoss twins.
About the company.
Grand Pacaraima Gold Corp. is a developing Canada based mining company currently holding concessions of Gold in Venezuela.
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.