Sysorex Elects Nasdaq-Listed Company CEO William Stilley to Board of Directors
September 13 2021 - 9:30AM
Sysorex (OTCQB: SYSX) (“Sysorex” or the “Company”), the preeminent,
U.S.-based, publicly traded Ethereum mining and technologies
company, today announced that it has elected William B. Stilley,
III to the Company’s Board of Directors and as Chair of the Board’s
Audit Committee. The Company also expanded the size of its Board to
five directors and established its Audit Committee.
Mr. Stilley is the Chief Executive Officer of Adial
Pharmaceuticals, Inc. (Nasdaq: ADIL), a biopharmaceutical company
focused on developing therapies for the treatment and prevention of
addiction and related disorders. Prior to joining Adial, he was the
Vice President, Business Development & Strategic Projects at
Clinical Data, Inc., where Mr. Stilley was instrumental in the
closing of mergers and acquisitions and licensing transactions, and
was involved in management of the company’s Phase 3 clinical
trials, overseeing manufacturing, and sourcing drug product. Mr.
Stilley also served as the Chief Operating Officer and Chief
Financial Officer of Adenosine Therapeutics LLC, where he ran the
internal operations of the company including research and
development, and all financing activity, until its sale to Clinical
Data.
Prior to his corporate career, Mr. Stilley was Captain in the
U.S. Marine Corps. Mr. Stilley earned an MBA with honors from the
Darden School of Business and a B.S. in Commerce/Marketing from the
McIntire School of Commerce, University of Virginia. He has guest
lectured at the Darden School of Business and serves on the board
of Avalon Globocare Corp. (Nasdaq: AVCO) and the Virginia BIO board
of advisors.
Wayne Wasserberg, Chief Executive Officer of Sysorex, commented,
“We are very excited to welcome Bill to our Board. He brings
extensive financial experience and is well-suited to his new roles
as Director and Chair of Sysorex’s Audit Committee. As we prepare
to list our securities on a more senior market, Bill’s experience
as the CEO of a Nasdaq-listed company will be valuable. Bill is
also exploring innovative use cases for blockchain technology at
Adial and we hope to be in a position to assist with these
endeavors. We believe the expansion of our Board and this
appointment reinforce our commitment to the highest levels of
corporate governance.”
Mr. Stilley stated, “I look forward to providing my experience
to help Sysorex execute on its ambitious growth strategy. Sysorex
has already established itself as a leader in Ethereum mining and
technology for government services markets, and the Company is well
positioned to leverage these capabilities and capitalize on
emerging opportunities driven by the transition to Ethereum 2.0, as
governments and corporations migrate to Ethereum and other
blockchains. I also look forward to supporting a number of exciting
initiatives underway that will help leverage Sysorex’s robust
technology into new markets such as healthcare, as we work together
to build shareholder value.”
ABOUT SYSOREX, INC.
Sysorex, Inc. (“Company”) is a data center owner
and operator and is the preeminent U.S.-based, publicly traded
Ethereum mining and Ethereum Blockchain technologies company.
Following the Company’s merger with TTM Digital Assets &
Technologies, Inc. (“TTM”), the Company shifted its primary
business focus to the mining of Ether (ETH) and opportunities
related to the Ethereum Blockchain. The Company currently owns and
operates approximately 10,000 NVIDIA GPUs generating approximately
500 Gigahash of computing power, which GPUs include thousands of
Cryptocurrency Mining Processors (“CMPs”). These GPUs are currently
online and securing the Ethereum Blockchain and generating ETH
around the clock with industry leading efficiency, and this ETH is
currently being retained by Sysorex as it grows its balance sheet.
In addition to the mining of ETH, the Company continues to operate
its wholly owned subsidiary, Sysorex Government Services, Inc.
(“SGS”), a business that provides information technology products,
solutions and services to federal, state, and local government,
including system integrators. The Company is also advancing
strategies to leverage decentralized finance (“De-Fi”) and
Non-Fungible Token (“NFT”) opportunities powered by the Ethereum
Blockchain.
Safe Harbor Statement
All statements in this release that are not based on historical
fact are “forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and the provisions
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
While management has based any forward-looking statements included
in this release on its current expectations, the information on
which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of the
control of Sysorex, Inc. and its subsidiaries, which could cause
actual results to materially differ from such statements. Such
risks, uncertainties, and other factors include, but are not
limited to, the fluctuation of economic conditions, the impact of
COVID-19 on Sysorex's results of operations, Sysorex’s ability to
integrate the products and business from recent acquisitions into
its existing business, the performance of management and employees,
the regulatory landscape as it relates to privacy regulations and
their applicability to Sysorex’s technology. Other factors that are
detailed in Sysorex's periodic and current reports available for
review at sec.gov. Furthermore, Sysorex operates in a highly
competitive and rapidly changing environment where new and
unanticipated risks may arise. Accordingly, investors should not
place any reliance on forward-looking statements as a prediction of
actual results. Sysorex disclaims any intention to, and undertakes
no obligation to, update or revise forward-looking statements.
Investor RelationsCrescendo Communications,
LLCDavid Waldman/Natalya RudmanTel: (212) 671-1020Email:
SYSX@crescendo-ir.com
Company – info@ttmdigitalassets.com
Investor Relations – ir@ttmdigitalassets.com
Jimmy Caplan, Market Makers
Public Relations – pr@ttmdigitalassets.com
Rick Eisenberg, Eisenberg Communications
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