ARB.L

Argo Blockchain
Argo Blockchain PLC - Loan Extension
1st July 2024, 06:00
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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

Tennyson Securities


Corporate Broker

Peter Krens

+44 207 186 9030

Fortified Securities

 

Joint Broker

Guy Wheatley, CFA

+44 74930989014

guy.wheatley@fortifiedsecurities.com

Tancredi Intelligent Communication

UK & Europe Media Relations

argoblock@tancredigroup.com

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.

 

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