07:00 Mon 08 Mar 2021
Argo Blockchain PLC - Land Purchase / Issue of Consideration Shares
Press Release
Argo Blockchain PLC
('Argo' or 'The Company')
Purchase of Land and Power Generation Rights
Issue of Consideration Shares
Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to provide a further update to its previously announced non-binding Letter of Intent with DPN LLC of New York, which set out the terms for Argo to acquire 320 acres of land in
The acquisition of DPN LLC (by way of a merger with a wholly owned subsidiary of Argo) gives Argo access to up to 800-megawatts of electrical power, where Argo intends to build a new 200mw mining facility over the next 12 months. This facility will provide Argo with what it believes are some of the lowest electricity rates in the world, the majority of which is from renewable sources.
The consideration for the acquisition was an initial price of
XMS Capital Partners, LLC acted as a financial advisor to Argo Blockchain in connection with the transaction.
Application will be made for the 3,497,817 new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Admission is expected to occur at
Following Admission, the total number of Ordinary Shares in issue will be 368,361,690 and the total number of voting rights will therefore be 368,361,690. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information.
Argo Blockchain |
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Chief Executive Executive Chairman |
via Tancredi +44 203 434 2334
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finnCap Ltd |
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Corporate Finance
Corporate Broking
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+44 207 220 0500
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OTC Markets |
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+44 204 526 4581
+44 7731 815 896 |
Tancredi Intelligent Communication |
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Salamander Davoudi Emma Valgimigli |
+44 7957 549 906
+44 7727 180 873 |
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
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