BlockQuarry Corp. & Minerset Holdings LLC Announce Letter of Intent to Merge Companies
HOUSTON, Jan. 31, 2023 (GLOBE NEWSWIRE) — via InvestorWire — BlockQuarry Corp. (OTC: BLQC) (“BlockQuarry” or the “Company”), a Texas-based company with commercial-stage operations in the energy and infrastructure industry focusing on cryptocurrency mine hosting and self-mining with a focus on Bitcoin, is pleased to announce the following developments to its shareholders.
The Company has signed an LOI with Minerset Holdings LLC, a Delaware limited liability company, to merge with BlockQuarry Corp. The LOI is to execute a full merger between both companies, subject to the execution of a definitive agreement.
The definitive agreement will include the terms of the full merger as well as the structure for the remaining entity. Once the full agreement is approved and the details are available for public dissemination, shareholders will be notified via official press release.
Alonzo Pierce, president and chair of BlockQuarry, stated, “This exciting announcement has been in the works for quite a while now. The knowledge and experience Minerset will bring on board with us is invaluable. Minerset is the perfect fit for BlockQuarry, as they are firm believers, as we are, in green sustainable mining and understand how important the use of renewable energy is to ensure a sustainable crypto ecosystem.”
Pierce continued, “This move also provides a broader global platform for BlockQuarry as well as a whole new sales and customer service division that we haven’t had before. Additionally, the added revenue to our balance sheet should help bolster our standing in the public markets and could add additional value to both our current and future shareholders as well as the Company itself. This is especially important as we continue our efforts for a Nasdaq uplisting.”
Known as a leader in cryptocurrency mining hardware sales and logistics, Minerset has generated more than $300 million in revenue, distributing 120,000-plus crypto mining devices to hundreds of customers worldwide. The company’s website, minerset.com, launched in early 2017 and has established itself as a one-stop-shop solution for all digital mining needs, accessible only within the company’s comprehensive ecosystem:
– Supplying the latest digital mining hardware and infrastructure.
– Providing streamlined, safe and secure logistics.
– Enabling access to a global network of renewable mining farm projects providing complete hosting solutions.
Elias Fernandez Sanchez, CEO of Minerset, stated, “We are incredibly excited about the future partnership between BlockQuarry and Minerset. We feel the synergies between the two companies are perfect to bring together to combine forces. Execution of this merger will bring a symbiotic relationship combining Minerset’s expertise, revenues and assets. We feel this is the first step for both companies to make a big splash, and the future looks exciting.”
Pierce concluded, “This agreement is hopefully the first step in a large, long-term plan that BlockQuarry has laid out in order to make a household name for itself globally. We believe the value that Minerset will bring is going to exceed anything we have done so far for the Company, our shareholders and investors. We look forward to providing additional updates on this as we go.”
All Company updates, material and nonmaterial, will only be made public via press releases, Twitter and/or via the Company’s website:
About BlockQuarry Corp.
BlockQuarry Corp. is an energy and infrastructure company focused on cryptocurrency hosting and self-mining operations, with leased properties located within the Southeast United States. BlockQuarry Corp. also maintains a fleet of digital/cryptocurrency mining equipment and infrastructure.
About Minerset Holdings LLC.
Minerset Holdings LLC is a crypto-mining and blockchain infrastructure venture focused on building and operating large-scale mining facilities and advanced data centers in the U.S. and international markets.
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or the Company’s future financial performance. In some cases, forward-looking statements may be identified by terminology including “could,” “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company’s current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Investors should refer to the risks disclosed in the Company’s reports filed from time to time with OTC Markets (www.otcmarkets.com).
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