Home Blockchain Argo Blockchain PLC Broadcasts Extra Tools Financing from NYDIG

Argo Blockchain PLC Broadcasts Extra Tools Financing from NYDIG

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LONDON, UK / ACCESSWIRE / Might 4, 2022 / Argo Blockchain PLC (“Argo” or “the Firm”), a world chief in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), broadcasts that Argo Helios LLC (“Argo Helios”), a completely owned subsidiary of Argo Blockchain plc, has entered into extra loans underneath Argo’s gear financing settlement (the “Financing Settlement”) with NYDIG ABL LLC (“NYDIG”), a completely owned subsidiary of New York Digital Funding Group LLC.

As a part of the extra financing, NYDIG will mortgage Argo Helios an mixture principal quantity of as much as $70.60 million (£56.3 million)*, topic to customary drawdown situations, to recapitalize the acquisition of digital asset mining gear (the “Financed Tools”) for the Firm’s flagship cryptocurrency mining facility, Helios, in Dickens County, Texas. Excellent borrowings underneath the Financing Settlement are secured by the Financed Tools and the contracts to amass the Financed Tools.

The important thing phrases of every mortgage are as follows:

Mortgage Quantity Funding Date Curiosity Fee Mortgage Maturity

$9.55 million 29 April 2022` 12.00% 10 Might 2024

$9.55 million 29 April 2022` 12.00% 10 Might 2024

As much as $6.99 million 31 Might 2022` 12.00% 10 June 2024

As much as $6.99 million 31 Might 2022` 12.00% 10 June 2024

As much as $10.23 million 31 Might 2022` 12.00% 10 June 2024

As much as $10.23 million 30 June 2022` 12.00% 10 July 2024

As much as $8.53 million 29 July 2022` 12.00% 10 August 2024

As much as $8.53 million 29 July 2022` 12.00% 10 August 2024

Peter Wall, Chief Government of Argo, stated: “We’re delighted to safe this extra non-dilutive funding which is able to allow us to proceed becoming out Part 1 of our Helios website. NYDIG understands the monetary necessities of large-scale bitcoin miners and we’re excited to proceed working with them to execute and ship on the subsequent section of Argo’s development.”

Josh Burandt, Head of Mining Companies at NYDIG, stated: “NYDIG is happy to supply extra financing to Argo to finish the subsequent section of development for his or her Helios website. This partnership will assist additional NYDIG’s aim of securing the bitcoin community and supporting the expansion of the world’s main Bitcoin miners. We’re comfortable to help the expansion of Argo’s state-of-the-art Texas facility, and we look ahead to rising the partnership throughout verticals.”

* Trade price right as of three Might 2022

Inside Data and Ahead-Trying Statements

This announcement incorporates inside info and consists of forward-looking statements which replicate the Firm’s or, as applicable, the Administrators’ present views, interpretations, beliefs or expectations with respect to the Firm’s monetary efficiency, enterprise technique and plans and goals of administration for future operations. These statements embody forward-looking statements each with respect to the Firm and the sector and trade wherein the Firm operates. Statements which embody the phrases “expects”, “intends”, “plans”, “believes”, “initiatives”, “anticipates”, “will”, “targets”, “goals”, “could”, “would”, “might”, “proceed”, “estimate”, “future”, “alternative”, “potential” or, in every case, their negatives, and related statements of a future or forward-looking nature establish forward-looking statements. All forward-looking statements deal with issues that contain dangers and uncertainties as a result of they relate to occasions that will or could not happen sooner or later. Ahead-looking statements will not be ensures of future efficiency. Accordingly, there are or will likely be vital elements that might trigger the Firm’s precise outcomes, prospects and efficiency to vary materially from these indicated in these statements. As well as, even when the Firm’s precise outcomes, prospects and efficiency are in step with the forward-looking statements contained on this doc, these outcomes is probably not indicative of ends in subsequent intervals. These forward-looking statements converse solely as of the date of this announcement. Topic to any obligations underneath the Prospectus Regulation Guidelines, the Market Abuse Regulation, the Itemizing Guidelines and the Disclosure and Transparency Guidelines and besides as required by the FCA, the London Inventory Trade, the Metropolis Code or relevant regulation and laws, the Firm undertakes no obligation publicly to replace or evaluation any forward-looking assertion, whether or not on account of new info, future developments or in any other case. For a extra full dialogue of things that might trigger our precise outcomes to vary from these described on this announcement, please consult with the filings that Firm makes once in a while with the US Securities and Trade Fee and the UK Monetary Conduct Authority, together with the part entitled “Danger Elements” within the Firm’s Registration Assertion on Kind F-1.

For additional info please contact:

Argo Blockchain

Peter Wall

Chief Government

through Tancredi +44 203 434 2334

finnCap Ltd

Company Finance

Jonny Franklin-Adams

Tim Harper

Joint Company Dealer

Sunila de Silva

+44 207 220 0500

Tennyson Securities

Joint Company Dealer

Peter Krens

+44 207 186 9030

OTC Markets

Jonathan Dickson

[email protected]

+44 204 526 4581

+44 7731 815 896

Tancredi Clever Communication

UK & Europe Media Relations

Emma Valgimigli

Emma Hodges

Fabio Galloni-Roversi Monaco

Nasser Al-Sayed

[email protected]

+44 7727 180 873

+44 7861 995 628

+44 7888 672 701

+44 7915 033 739

About Argo:

Argo Blockchain plc is a world chief in cryptocurrency mining with one of many largest and most effective operations powered by clear power. The Firm is headquartered in London, UK and its shares are listed on the Predominant Market of the London Inventory Trade underneath the ticker: ARB and on the Nasdaq World Choose Market in the US underneath the ticker: ARBK.

This info is offered by RNS, the information service of the London Inventory Trade. RNS is accepted by the Monetary Conduct Authority to behave as a Major Data Supplier in the UK. Phrases and situations regarding the use and distribution of this info could apply. For additional info, please contact [email protected] or go to www.rns.com.

SOURCE: Argo Blockchain PLC

View supply model on accesswire.com:
https://www.accesswire.com/700047/Argo-Blockchain-PLC-Announces-Additional-Equipment-Financing-from-NYDIG


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