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HokieHead

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HokieHead

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Wednesday, 12/28/2022 11:04:17 AM

Wednesday, December 28, 2022 11:04:17 AM

Post# of 43
Took some here on refinancing news.

Announcement of Transformational Strategic Transactions with Galaxy Digital Holdings, Ltd.


- Argo's subsidiary to sell its Helios facility to Galaxy for $65 million (£54 million) and refinance asset-backed loans with a new $35 million (£29 million) loan with Galaxy

- Transactions will reduce total indebtedness by $41 million (£34 million) and simplify Argo's operating structure

- Argo will maintain ownership of all mining machines, and Galaxy will host Argo's fleet of Bitmain S19J Pros at Helios

- Transactions will strengthen Argo's balance sheet, improve Argo's liquidity position, and enable the Company to continue operations
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