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InvestorNewsBreaks – BlockQuarry Corp. (BLQC) Cancels $5M in Debt, Strengthens Balance Sheet
January 10, 2023

InvestorNewsBreaks – BlockQuarry Corp. (BLQC) Cancels $5M in Debt, Strengthens Balance Sheet

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

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