"Technically, at this point we're no longer with the label; we've fulfilled our contract"

This quote by Peter Steele recommends that the band he belongs of has actually completed their legal obligations with their record label. This might mean that the band has either finished recording their album, or that they have actually satisfied the terms of their contract in some other method. It might likewise indicate that the band has chosen to part ways with the label, either because they have selected to go in a different direction musically, or since the label was not meeting their expectations. Whatever the case, it appears that the band is no longer under contract with the label, and is now totally free to pursue other chances. This might be a great chance for the band to explore new avenues and take their music in a different instructions.