1/ New RNS release:
Argo is pleased to announce it has entered into a non-binding LOI with DPN LLC to acquire 320 acres of land in West Texas with access for up to 800mw of power where Argo intends to build a 200mw mining facility in the next 12 months.
#ARB $ARBKF
#BTC
Argo is pleased to announce it has entered into a non-binding LOI with DPN LLC to acquire 320 acres of land in West Texas with access for up to 800mw of power where Argo intends to build a 200mw mining facility in the next 12 months.
#ARB $ARBKF
#BTC
2 /
When completed, this facility will provide Argo with electricity at some of the lowest rates in the world with the majority from renewable sources.
#ARB $ARBKF
#BTC
When completed, this facility will provide Argo with electricity at some of the lowest rates in the world with the majority from renewable sources.
#ARB $ARBKF
#BTC
3/
Subject to entering into a definitive agreement and the satisfaction of related conditions, the overall price of this acquisition will be US$17.5M to be satisfied by the issue and allotment of new ordinary shares in Argo.
#ARB $ARBKF
#BTC
Subject to entering into a definitive agreement and the satisfaction of related conditions, the overall price of this acquisition will be US$17.5M to be satisfied by the issue and allotment of new ordinary shares in Argo.
#ARB $ARBKF
#BTC
4/
As part of this project, Argo will also gain access to a pre-negotiated US$100 million credit facility at competitive rates. This will provide sufficient capital to build out the facility and further expand our mining fleet.
#ARB $ARBKF
As part of this project, Argo will also gain access to a pre-negotiated US$100 million credit facility at competitive rates. This will provide sufficient capital to build out the facility and further expand our mining fleet.
#ARB $ARBKF
5/
A circular will be sent out for a general meeting where shareholders will be asked to approve the allotment and issue of (a) the new shares to be issued to DPN LLC and (b) the issue of further new shares to raise equity for a down payment on the debt facility.
#ARB $ARBKF
A circular will be sent out for a general meeting where shareholders will be asked to approve the allotment and issue of (a) the new shares to be issued to DPN LLC and (b) the issue of further new shares to raise equity for a down payment on the debt facility.
#ARB $ARBKF
6 /
Peter Wall, Argo CEO said: “We are incredibly excited about this proposed acquisition. It gives us tremendous control over our mining operations, as well as significant capacity for expansion, with access to some of the cheaper renewal energy worldwide.
#ARB $ARBKF
Peter Wall, Argo CEO said: “We are incredibly excited about this proposed acquisition. It gives us tremendous control over our mining operations, as well as significant capacity for expansion, with access to some of the cheaper renewal energy worldwide.
#ARB $ARBKF
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