REG - Argo Blockchain PLC - Loan Extension

Argo BlockchainAnnouncement

01/07/2024 07:00

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RNS Number : 4661U  Argo Blockchain PLC  01 July 2024

Press release

1 July 2024

 

Argo Blockchain plc

('Argo' or 'the Company')

Extension of Galaxy Loan

Argo Blockchain plc, (LSE: ARB; NASDAQ: ARBK), a global leader in
cryptocurrency mining using predominantly renewable energy, announces the
extension of its loan with Galaxy Digital Holdings Ltd. ("Galaxy") through to
December 28, 2024. As of June 30, 2024, the remaining balance of the loan is
$5.7 million, which has been reduced from the $35 million originally advanced
in December 2022.  With this further loan repayment, the Company expects
reduced monthly interest expense on the loan from $440k in July 2023 to $78k
in July 2024.

This announcement contains inside information.

For further information please contact:

 Argo Blockchain
 Investor Relations                  ir@argoblockchain.com (mailto:ir@argoblockchain.com)
 Tennyson Securities
 Corporate Broker                    +44 207 186 9030

 Peter Krens
 Fortified Securities
 Joint Broker                        +44 74930989014

 Guy Wheatley, CFA                   guy.wheatley@fortifiedsecurities.com
                                     (mailto:guy.wheatley@fortifiedsecurities.com)
 Tancredi Intelligent Communication  argoblock@tancredigroup.com (mailto:argoblock@tancredigroup.com)

 UK & Europe Media Relations

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain
technology company focused on large-scale cryptocurrency mining. With mining
operations in Quebec and Texas, and offices in the US, Canada, and the UK,
Argo's global, sustainable operations are predominantly powered by renewable
energy. In 2021, Argo became the first climate positive cryptocurrency mining
company, and a signatory to the Crypto Climate Accord. For more information,
visit www.argoblockchain.com (http://www.argoblockchain.com/) .

 

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