Sysorex Inc (SYSX)

[JMMatthews]

Sysorex Elects Nasdaq-Listed Company CEO William Stilley to Board of Directors

HERNDON, Va., Sept. 13, 2021 (GLOBE NEWSWIRE) -- 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.

https://www.globenewswire.com/news-release/2021/09/13/2295882/0/en/Sysorex-Elects-Nasdaq-Listed-Company-CEO-William-Stilley-to-Board-of-Directors.html

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