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BlockQuarry Corp. Resolves Dispute, Regains Gaffney Mining Assets, and Unveils Plans for Operations and Debt Consolidation

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BlockQuarry Corp. Announces Favorable Settlement Agreement and Reveals Plans for Operations and Debt Consolidation

BlockQuarry Corp. (OTC: BLQC), a prominent energy and infrastructure company based in Texas, is pleased to announce a favorable judgment in the case of Blockquarry Corp v. Litchain Corp et al. The settlement agreement allows BlockQuarry to regain possession of mining assets, including pods, transformers, storage containers, and miners, from its Gaffney, South Carolina location. Alongside this acquisition, the company is excited to share its future plans for debt consolidation and operational expansion.

Forward-Looking Statements and Debt Consolidation

Alozno Pierce, president and chair of BlockQuarry, expressed his enthusiasm for the settlement agreement and the company's future prospects. Pierce stated that the company has already identified next steps for the mining equipment and settlement proceeds, including reducing the company's dilutive debt liability. BlockQuarry plans to allocate the settlement proceeds towards a significant reduction in debt by targeting the remaining excess dilutive convertible debt, ensuring the elimination of future excessive dilution.

Operational Expansion and Asset Utilization

BlockQuarry has outlined several key areas of focus for its near-term operational expansion. The company plans to acquire all mining assets from the Gaffney location and prepare them for shipment to a new site in Jackson County, Missouri. Highly experienced engineers will conduct assessments and retrofit the mining and infrastructure equipment for future operations. The company will establish an Operations Management team at the Jackson County site to facilitate operational expansion.

Anticipated Growth and Future Updates

BlockQuarry Corp. is excited about its upcoming operations and expansion plans. The company looks forward to providing more detailed updates on the execution of its business expansion, including the acquisition of mining assets, retrofitting equipment, and debt consolidation. Shareholders and stakeholders can stay informed with the latest news and developments by visiting the company's website and following BlockQuarry on Twitter. About BlockQuarry Corp. BlockQuarry Corp. (BLQC) is a trusted American energy and infrastructure partner dedicated to providing sustainable and cost-effective energy solutions. The company focuses on fostering carbon-negative industrial energy and offers renewable energy solutions for high-volume power needs in various industries, including data warehousing, manufacturing, artificial intelligence (AI), and cryptocurrency mining.

Implications of BlockQuarry Corp.'s Settlement and Expansion Plans on New Businesses

The recent announcement by BlockQuarry Corp. about its favorable settlement agreement and plans for operational expansion and debt consolidation provides a valuable case study for new businesses, especially those in the energy and infrastructure sectors. The company's ability to regain possession of critical mining assets underscores the importance of legal preparedness and robust dispute resolution mechanisms for businesses.

Debt Consolidation and Business Sustainability

BlockQuarry's focus on debt consolidation, as expressed by its president, Alozno Pierce, highlights the significance of financial management for business sustainability. By allocating settlement proceeds towards reducing dilutive debt liability, the company is taking steps to ensure its long-term financial health. This strategy can serve as a model for new businesses looking to balance growth and financial stability.
Operational Expansion and Asset Utilization
BlockQuarry's plans for operational expansion and asset utilization, including the acquisition and retrofitting of mining assets, demonstrate a proactive approach to growth. The company's strategy to establish an Operations Management team at its new site in Jackson County, Missouri, also emphasizes the importance of effective management in facilitating expansion. In conclusion, BlockQuarry Corp.'s recent developments provide valuable insights for new businesses, particularly in terms of dispute resolution, financial management, and operational expansion.
Story First Published at: https://financialpost.com/globe-newswire/blockquarry-corp-announces-favorable-settlement-agreement-regains-possession-of-gaffney-mining-assets-and-reveals-plans-for-current-operations-debt-consolidation
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