Argo Blockchain PLC Celsius Resolution of Claims (8945U)
December 08 2021 - 1:00AM
UK Regulatory
TIDMARB
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 via Tancredi +44 203
Chief Executive 434 2334
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finnCap Ltd
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Corporate Finance
Jonny Franklin-Adams
Tim Harper
Joint Corporate Broker
Sunila de Silva +44 207 220 0500
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Tennyson Securities
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Joint Corporate Broker
Peter Krens +44 207 186 9030
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OTC Markets
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Jonathan Dickson +44 204 526 4581
jonathan@otcmarkets.com +44 7731 815 896
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Tancredi Intelligent Communication
UK & Europe Media Relations
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Emma Valgimigli
Emma Hodges
Salamander Davoudi +44 7727 180 873
Fabio Galloni-Roversi +44 7861 995 628
Monaco +44 7957 549 906
argoblock@tancredigroup.com +44 7888 672 701
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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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