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Argo Blockchain PLC (ARB)

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Wednesday 08 December, 2021

Argo Blockchain PLC

Celsius Resolution of Claims

RNS Number : 8945U
Argo Blockchain PLC
08 December 2021
 

Press Release

08 December 2021

 

Argo Blockchain PLC

("Argo" or "the Company")

Celsius Resolution of Claims

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK) announces that they have  reached an amicable resolution with Celsius, of their respective claims in the litigation pending in New Jersey federal court. Pursuant to the resolution: (i) the parties entered into an amendment terminating their November 2, 2020 lease agreement, whereby Argo paid Celsius US $6,320,947.64 in satisfaction of its remaining financial obligations to Celsius and Celsius conveyed title to Argo for the Bitmain S19 Antminer S19 Pro mining machines covered by the lease and (ii) Argo agreed to terminate its mining services arrangement with Celsius in return for a payment from Celsius to Argo in the form of Bitcoin.  The remaining terms of the resolution were not disclosed.

 

For further information please contact:

Argo Blockchain

 

Peter Wall

Chief Executive

via Tancredi +44 203 434 2334

 

finnCap Ltd

 

Corporate Finance

Jonny Franklin-Adams

Tim Harper

Joint Corporate Broker

Sunila de Silva

+44 207 220 0500

 

 

Tennyson Securities

 

Joint Corporate Broker

Peter Krens

+44 207 186 9030

OTC Markets

 

Jonathan Dickson

[email protected]

+44 204 526 4581

+44 7731 815 896

Tancredi Intelligent Communication

UK & Europe Media Relations

 

 

Emma Valgimigli

Emma Hodges

Salamander Davoudi

Fabio Galloni-Roversi Monaco

[email protected]

+44 7727 180 873

+44 7861 995 628

+44 7957 549 906

+44 7888 672 701

 

About Argo:

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the Nasdaq Global Select Market in the United States under the ticker: ARBK.

 

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