DGAP-News: Stockholm IT Ventures

New Board Reflects Company's Vision and Strategic Direction as Leader in Clean and Efficient Low-Cost Energy Cryptocurrency Mining
 
STOCKHOLM, SWEDEN (1 February, 2018) - Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB), a Swedish technology company specialising in clean and efficient low-cost energy cryptocurrency mining, today announced at the company's EGM the appointment of Roger Tamraz as Chairman, and Marc d'Hombre, Eduard Will, Matthew Steckel and Nicolai Paskalev as Directors. The positional predecessors, Wayne Lochner, will continue to play a key role in the senior management of the company, and Joao Saldanha, and Alberto Cuellar, will stay on as members of the advisory board. The new team's depth and breadth of experience highlights the company's rapid progression and leadership into green energy technology for cryptocurrency.
 
"I would like to thank Wayne Lochner for his excellent leadership as Chairman of the Board. I would also like to thank Joao Saldanha and Alberto Cuellar for their continued service as members of the board," stated Anthony Norman, CEO of Stockholm IT Ventures. "With our new laser focus on driving forward a clean and efficient low-cost energy future for cryptocurrencies including a recent strategic partnership with Cryptotech AS, Roger Tamraz brings the exact expertise and seasoned team from investment banking to move Stockholm IT Ventures into the future. The new Board will primarily focus on securing the funding required for the roll out at the best possible terms to further reduce shareholder dilution and increase share value."
 
"I look forward to working with the new board in connection with furthering Stockholm IT Ventures mission," stated Roger Tamraz, Chairman of the Board for Stockholm IT Ventures. "The new Board members are well-qualified to help guide the company as it carries out its critical leading role in delivering a revolutionary green energy solution for cryptocurrency mining to the world."
 
New Stockholm IT Ventures Board Members
 
Roger Tamraz - Chairman of the Board
Mr. Tamraz is a renowned successful investment banker and venture capital investor. He founded Tamoil, an oil company which he built from the acquired assets of Amoco and Texaco. Tamoil has since gone on to become a $20 billion turnover business. During his time in the oil industry, he has been responsible for some of the most innovative pipeline engineering projects, including the Suez-Mediterranean pipeline which was considered one of the world's greatest engineering feats.
 
Marc d'Hombre - Director
Mr. d'Hombre is a financial consultant with Satellite Logistics. He has held several senior advisor positions with leading investment firms including Maera-Capital, MBC Consultancy and Atlantic Financial Group. He holds degrees in Economics from the Paris Law and Economics University as well as Mathematics and Philosophy.
 
Matthew Steckel - Director
Mr. Steckel is an international investor and experienced corporate manager in upstream and downstream oil and gas, banking and finance, and computerized design and engineering for the oil and gas industry. He served as Chairman of the Board of Directors of a Swiss Bank operating in Geneva and Lugano. He holds and MA and MBA in International Banking and Finance from Harvard Business School, a BA in Mathematics and Economics from Drew University and degrees in Advanced International Economics from the London School of Economics, as well as Mechanical Engineering and Mathematics from Stevens Institute of Technology.
 
Eduard Will - Director
Mr. Will is a merchant banker specializing in mergers and acquisitions and direct investments. He currently serves on the board of directors or as a senior advisor for numerous firms including Emerson Radio, South East Group in Hong Kong, Crimson Ant General Partner Limited and Lafe Corporation Limited. He holds a degree from the University of Hamburg.
 
Nicolai Paskalev - Director
Mr. Paskalev is a financial advisor with Advoconsult Financial and Advisory Services specializing in debt management, financing and long term investment strategies. He holds a Masters of Business in International Business from the University of National and World Economy.
 
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities use clean and sustainable energy from hydro power stations in Northern Europe, requiring up to 80% less energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology. For more information, visit www.stockholmit.co. You can also find them on Facebook, Twitter and LinkedIn.
 
 
# # #

Media Contacts:
Vibrate Communications for Stockholm IT Ventures
leslie@vibratecommunications.com
tyrone@vibratecommunications.com