Court Rules in Favour of Greenswitch in Civil Case

80 Mile PLC ('80 Mile' or the 'Company'), the AIM (80M.AIM), FSE listed and US OTC traded (BLLYF.OTC), exploration and development company with mineral and energy projects in Greenland and a biofuels plant in Italy, is pleased to provide an update on a civil damages and ownership dispute involving Greenswitch Srl ('Greenswitch'), a subsidiary of Hydrogen Valley Ltd ('Hydrogen Valley' or 'HV'), and Digitile Com Srls ("Digitle").

As first announced on 19 December 2024, 80 Mile has the option to acquire up to a 100% interest in Hydrogen Valley. As announced on 16 January 2025, the Company has moved to Stage two of the acquisition, resulting in the acquisition of a 24% interest in Hydrogen Valley. The Company had the resolution of this litigation as a condition precedent before it would move to a larger percentage ownership as per its previously announced options in HV. The Company expects to shortly announce an extension to the options it has in place for HV.

The Company is pleased to advise that the Court of Bari, located in southern Italy's Puglia region, has ruled on and subsequently dismissed claims made by Digitile against Greenswitch, regarding a private agreement dated 2015. The Court rejected Digitile's claims for more than €12 million in damages and ownership of the plant, after finding insufficient evidence to prove the 2015 agreement's authenticity or its formation on the stated date. This closes the outstanding litigation for Greenswitch and as such the Company now expects to continue with its staged acquisition.

80 Mile looks forward to updating shareholders on developments shortly.

Overview

The dispute centres on a private agreement dated 20 July 2015, concerning the transfer of rights and obligations related to the HV facility in Ferrandina.

Digitile claimed that Greenswitch failed to fulfil its contractual obligations under the 2015 agreement, which included implementing an industrial and research project, granting exclusive commercialisation rights to Digitile, and reimbursing €78,800. Digitile sought contract resolution, a €10,000,000 penalty, €78,800 reimbursement, and €2,000,000 for lost commercial opportunities.

Greenswitch contested the existence and authenticity of the 2015 agreement, arguing it was never negotiated or signed on the stated date and was likely fabricated later by Digitile's representatives, Pepe and Petrone, when Petrone lacked authority to represent Greenswitch. Greenswitch also alleged the contract's object was illicit and indeterminate and denied any breach.

The Court rejected Digitile's claims, finding insufficient evidence to prove the 2015 agreement's authenticity or its formation on the stated date. Key evidence included the absence of the agreement in any financial records, contradictory statements in from Digitile's in prior legal proceedings, and witness testimonies denying knowledge of any such agreement.

The Court dismissed Digitile's claims, denied Greenswitch's request for damages due to frivolous litigation (lacking proof of bad faith), and ordered Digitile to pay Greenswitch's legal costs, amounting to €33,685 plus additional fees and taxes, as per the applicable legal fee regulations.