Woodlands, TX. , Nov. 08, 2023 (GLOBE NEWSWIRE) -- BlueFire Equipment Corp. (OTC: BLFR) (“BLFR” or the “Company”), a specialist in emerging industry acquisitions, today announces the reduction of the Company’s Authorize Common Stock, increase of the Company’s Series A Preferred Stock, and updates on the Binding Letter Agreement with Resource Rock Exploration, LLC. (“Resource Rock”).
Authorize Common Stock Reduction:
On November 7, 2023, the Company reduced its Authorized Common Stock from 2 billion shares to 250 million shares. The Company anticipates OTC Markets to reflect the change by November 15, 2023, based on recent communication with the Transfer Agent. Management does not see the need on having more than 250 million shares authorized based on its current operations and plans.
Series A Preferred Stock Increase:
On November 7, 2023, the Company increased its Series A Preferred Stock from 50 million shares to 99 million shares. Management increased the Company’s Series A Preferred Stock for future potential acquisitions.
Resource Rock Exploration, LLC. Binding Agreement Update:
The expected execution date of the Joint Operating Agreement (“JOA”) has been extended from on or before November 3, 2023 as the agreement is still under legal review. Screaming Eagle’s cash compensation for its 12.5% interest will be received upon executing the JOA.
About BlueFire Equipment Corp. (BLFR)
BLFR, after its first acquisitions in the oil and gas industry Screaming Eagle Partners, LLC. operating in the state of Texas, has gained traction and momentum to focus on increasing its acquisitions within the energy sector.
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange — including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions — are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. There are no assurances that the Company will complete additional acquisitions or will be successful in being approved for a NASDAQ listing. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
Nickolas S. Tabraue
Interim CEO, Chief Compliance and Investor Relations Officer, and Director of the Board
Phone (786) 375-7281
