Argo Blockchain PLC Announces Resumption of Trading on LSE

Recovery of trading on the London Stock Exchange

London, United Kingdom / Accesswire / 12 December 2022 / Argo Blockchain plc (“Argo” or the “Company”), a global leader in cryptocurrency mining (LSE:ARB) (Nasdaq:ARBK), is pleased to announce the following:

We are exposed to the risk of not having sufficient cash to support our continued business operations during the next month. We are in pre-negotiation with third parties to engage in equipment financing transactions that we believe will sell certain assets, enhance our balance sheet and improve liquidity. Although we expect to be able to complete the transaction outside of any U.S. Chapter 11 filing, there is no assurance that we will be able to avoid such filing. The Company has engaged McDermott Will & Emery LLP as legal advisors, Berkeley Research Group, LLC as financial advisors, and Stifel GMP and its affiliate, Miller Buckfire & Co., LLC as investment bankers, to support these strategic options. Assisted in analysis.

As part of this process, certain draft material was inadvertently published as a test page on our website. Trading in the Company’s securities on the London Stock Exchange and the Nasdaq was suspended on Friday, December 9, 2022, due to the erroneous release of materials implying that the Company was filing for Chapter 11 bankruptcy. I was. Shareholders should note that the Company has not filed for bankruptcy. bankruptcy at this point.

We have requested the UK Financial Conduct Authority to re-list our common shares, which will be done as soon as practicable.

Inside Information and Forward-Looking Statements

This announcement contains inside information and the current views, interpretations, or beliefs of the Company or, as appropriate, the Directors, regarding the Company’s financial performance, business strategy, and management’s plans and objectives with respect to future operations. It contains forward-looking statements that reflect expectations. These statements contain forward-looking statements regarding both the company and the sectors and industries in which it operates. “confident”, “hope”, “intend”, “plan”, “believe”, “plan”, “expect”, ” Intention, Goal, Purpose, Might, Will, Will, May, Continue, Predict, Future, Opportunity, Possible “sex”, or in any case the negation thereof, and similar statements of a future or forward-looking nature identify the future-statement you are looking for. All forward-looking statements address matters that involve risks and uncertainties. Because these matters relate to events that may or may not occur in the future. This includes, among others, the risks of: Due to our cash shortfall, we may need to file for bankruptcy in the future. Also, if the company has to file for bankruptcy, it may not be able to come out of bankruptcy as a going concern. and our inability to secure sufficient additional funds to meet our business needs. Forward-looking statements are not guarantees of future performance. Accordingly, there are, or could occur, important factors that could cause our actual results, prospects and performance to differ materially from those indicated in these statements. Furthermore, even if our actual results, prospects and performance are consistent with the forward-looking statements contained in this document, those results may not be indicative of results for subsequent periods. These forward-looking statements speak only as of the date of this announcement. Subject to its obligations under the Prospectus Regulation Regulations, Market Abuse Regulations, Listing Regulations, Disclosure and Transparency Regulations, the Company will not undertake any obligations except as may be required by the FCA, the London Stock Exchange, City Law or applicable laws and regulations. I promise not. An obligation to publicly update or confirm forward-looking statements as a result of new information, future developments or otherwise. Please refer to our filings with the U.S. Securities and Exchange Commission and the UK Financial Conduct Authority from time to time for more information on factors that could cause actual results to differ from those set forth in this announcement. Includes a section of the company’s registration statement on Form F-1 entitled “Risk Factors.”

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About Algo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company specializing in large-scale cryptocurrency mining. With a major mining facility in Texas and offices in the US, Canada and the UK, Argo’s global and sustainable operations are primarily powered by renewable energy. In 2021, Argo will become the first climate positive cryptocurrency mining company to sign the Crypto Climate Accord. Argo has also participated in multiple Web 3.0, DeFi, and GameFi projects through its Argo Labs division, further contributing to business operations and the development of the cryptocurrency market. For more information, please visit www.argoblockchain.com.

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sauce: Algo Blockchain PLC