BlockQuarry (OTC: BLQC), a Texas-based company with commercial-stage operations in the energy and infrastructure industry focusing on cryptocurrency mine hosting and self-mining in the Southeast United States, today provided an update to its shareholders. According to the announcement, the company has cancelled $5 million in debt, resulting in a 30% reduction in overall liabilities on its balance sheet. In addition, BlockQuarry was able to extend maturity dates on its remaining notes with its largest debtholder, RB Capital Partners. “I’m very excited about the substantial moves we were able to make with some of our debtholders, including our largest investor, RB Capital. These moves are a key part of our strategy to clean up our balance sheet and help maximize shareholder equity,” said Alonzo Pierce, president and chair of BlockQuarry. “Not only were we able to cancel debt, but we were also able to extend the maturity date on our remaining notes with RB Capital, taking them out of default. This is important, as it will reduce the derivative liabilities that show up on our balance sheet. The company is now in a much stronger position, and shareholder value has undoubtedly increased.”
To view the full press release, visit https://ibn.fm/GsyJq
About BlockQuarry Corp.
BlockQuarry is an energy and infrastructure company focused on cryptocurrency hosting and self-mining operations, with leased properties located within the Southeast United States. BlockQuarry also maintains a fleet of digital/cryptocurrency mining equipment and infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to BLQC are available in the company’s newsroom at http://ibn.fm/BLQC
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.investorwire.com
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
InvestorWire is part of the InvestorBrandNetwork.