BlueFire Equipment Corp (BLFR) Executes a Combination Agreement with Ram Cap, LLC. Obtaining a $30 Million Line of Credit and 10 Cash Deposit Secured LOIs Valued at Approximately $209 Million to be Merged within 2024 Starting in Q2

WOODLANDS, TX / ACCESSWIRE / March 5, 2024 / BlueFire Equipment Corp. (OTC PINK:BLFR) ("BLFR" or the "Company"), a specialist in emerging industry acquisitions, today announces the execution of a Combination Agreement with Ram Cap, LLC. ("Ram Cap"). The agreement entails the contribution of a $30 million line of credit and 10 LOIs secured with cash deposits in escrow with the LOIs valued at approximately $209 million. These assets are slated to be merged within 2024, commencing in Q2.

The Transaction:

Through an all-stock transaction, Ram Cap's CEO, Dr. D. Rene Ramirez, executed a Combination Agreement with BlueFire Equipment Corp. (BLFR), contributing necessary capital and transferring select assets to BLFR in exchange for the issuance of 54,000,000 shares of series A preferred stock. As part of the transaction, Rene succeeds Kirk Yariger as Chairman of the Board, leading the Board of Directors, which includes Rene, T. Dan Powers, and Nickolas S. Tabraue. They plan to expand the board to seven members as the company progresses. Kirk transitions from Chairman of the Board to focus on managing Screaming Eagle Partners, LLC. ("SEP"), and Screaming Energy, LLC. ("SEE"). The executive team remains intact, with Matthew Goldston as CFO and Nickolas serving as Interim CEO, Chief Compliance Officer, and Investor Relations Officer. The board will appoint key roles to enhance efficiency and meet merger requirements for companies slated to join in 2024.

In conjunction with the issuance of series A preferred stock to Ram Cap, Prior Series A Shareholders from the SEPacquisition in late 2023 will convert their shares to common stock under a First Right of Refusal/Leak-Out Agreement.

The Assigned Secured Line of Credit:

Through Ram Cap, the Company has been assigned $30 million out of the $185 million secured line of credit from Ram Cap's controlling interest in Ramirez Capital, LLC. The line of credit will be utilized to acquire numerous companies throughout 2024, with the option to increase the assigned line to the Company if needed.

Cash Deposit Secured LOI Mergers:

Through Ram Cap, the Company has been assigned cash deposit secured LOIs to acquire membership interest or assets from 10 companies with an approximate total value of $209,000,000 from Ram Cap's controlling interest in Ramirez Capital Holdings, LLC and Ramirez Capital, LLC. The companies under LOI are planned to be merged into BLFR within 2024, with the first acquisition scheduled for Q2.