BLQC - BlockQuarry Corp. Announces Favorable Settlement Agreement Regains Possession of Gaffney Mining Assets and Reveals Plans For Current Operations Debt Consolidation | Benzinga
HOUSTON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- via IBN – BlockQuarry Corp. (OTC:BLQC), a leading Texas-based energy and infrastructure company, is pleased to announce results of a favorable judgment in the case of Blockquarry Corp v. Litchain Corp et al. The Company has reached a settlement agreement, regaining possession of mining inventory that includes pods, transformers, storage containers and miners, amongst other proceeds, from the current Gaffney, South Carolina, location.
In addition to the acquisition of these assets, the Company is excited to provide several forward-looking statements regarding updates on future debt consolidation, and operational plans for the current mining inventory and assets on hand.
Alozno Pierce, president and chair of BlockQuarry, couldn't be more excited as to what this moment means for the future of the Company.
"This (moment) has been a long time coming and a result in which we were confident of achieving," Pierce states, in response to the settlement agreement. "We have already identified next steps for both the mining equipment and settlement proceeds, which includes having our new operations management team getting to work on the equipment and reducing the Company's dilutive debt liability."
BlockQuarry will look to capitalize on this momentum in a few ...