BlockQuarry Corp (BLQC)

[Louied91]

$BLQC BlockQuarry Corp. and Pantheon Resources Approve Change of Control, Welcome New Interim CEO and CFO, Stephen Stenberg

https://www.globenewswire.com/news-release/2023/12/18/2797801/0/en/BlockQuarry-Corp-and-Pantheon-Resources-Approve-Change-of-Control-Welcome-New-Interim-CEO-and-CFO-Stephen-Stenberg.html

HOUSTON, Dec. 18, 2023 (GLOBE NEWSWIRE) -- via IBN -- BlockQuarry Corp. (OTC: BLQC), a leading Texas-based energy and infrastructure company, proudly announces a transformative phase in its corporate leadership and strategic direction by agreeing to terms on a change of control that effectively allows for a span of voting control across the executive team. A pivotal key member of the executive leadership team is also being announced with the appointment of interim CEO/CFO, Stephen Stenberg.

Under the new terms, former president and chairman, Alonzo Pierce, has formally relinquished the president title and extended it to the current COO of BlockQuarry, Lawrence Davis, setting the stage to support what the Company believes is the next phase of exponential growth, both operationally and financially. Pierce, who will remain with BlockQuarry as chairman and senior advisor, shares in the vision of this integration, emphasizing the importance and need for these changes to take place in order to propel the Company to greater heights in the bitcoin mining, energy and infrastructure space. As part of this strategic evolution, Pierce and Davis express confidence in the shared commitment between BlockQuarry and Pantheon. Together they view this collaboration as a way to leverage the resources, strengths and talents of each entity and simultaneously create a synergy that aligns with their collective vision for the Company's future success.

A major key move to ensure the future success of the Company is the appointment of Stenberg as interim CEO and CFO of BlockQuarry. During his career in the equities markets, Stenberg has demonstrated a stellar track record in restructuring financial frameworks and implementing cutting-edge data science technologies, most recently at Pantheon Financial Partners, underscoring his commitment to establishing financial health and innovation within the Company. As previous founder and managing partner of Spectre Research, Stenberg has shown great entrepreneurial success, achieving an annualized rate of return for his portfolio of investors in a span of 5 years that has outperformed the S&P 500. Stenberg's leadership in the United States Army Special Forces further highlights his dedication and commitment to discipline, strategy and performance. Stenberg holds a bachelor of arts degree from Columbia University, certifications from the CFA Institute, and has a strong proficiency in technology, including Python, JavaScript and R, aligning himself with the ever evolving financial and technological landscape of today.

Stenberg's multifaceted proficiency, including alternative asset management, financial data analysis and software development, aligns seamlessly with the dynamic needs of BlockQuarry.

Davis expressed confidence in Stenberg's leadership, stating: "Stephen's expertise will usher in a transformative phase for BlockQuarry, promising tremendous value, strategic growth and unparalleled innovation."

Stenberg said this about his first impressions of the Company and the state of the business: "I am so thrilled to join a team that is committed to re-energize the space we are in and who bring a disciplined approach to the business, ensuring long-term value for our customers and investors. My confidence in my partners, both military veterans and experienced professionals, leaves me excited for the future."

As BlockQuarry sets sail into this new era, through an extended voting span of control and with Stenberg and Davis leading the way, the Company remains committed to delivering immense value to its shareholders and contributing to the broader landscape of energy, infrastructure and blockchain innovation.