Argo Blockchain PLC Announces £22.4 Million Private Placement With Institutional Investors and Mining Capacity Expansion
18 Janeiro 2021 - 09:57AM
Business Wire
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE US
Argo, the leading cryptocurrency miner based in the UK
(LSE:ARB), is pleased to announce that it has entered into a
securities purchase agreement for a private placement of its
ordinary shares ("Ordinary Shares") to certain institutional
investors for gross proceeds of GBP £22.4 million (the "Private
Placement"). Pursuant to the Private Placement, the Company will
issue 28 million Ordinary Shares (the “Placement Shares”) at a
purchase price of GBP £0.80 per Ordinary Share. The Private
Placement is limited to those certain institutional investors that
have already subscribed and this announcement should not be
considered an offer or solicitation to purchase or subscribe for
securities in the United States.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the Private Placement.
The net proceeds of the Private Placement will be used by the
Company for working capital and general corporate purposes,
including the expansion of the Company’s mining capacity in Q1 and
Q2 of 2021 through a purchase from two leading manufacturers. This
new mining hardware expansion is expected to be installed in
batches at Core Scientific’s facilities in the United States
between February to June, and is scheduled to be fully operational
by June 2021. This expansion will add approximately 610 petahash to
the Company's installed computing power, bringing it to a total of
1,685 petahash or 1,68 Exahash by the end of Q2 2021.
Application will be made for the Placement 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 and the closing
of the Private Placement are expected to occur on or about 21
January 2021. The Placement Shares will rank pari passu with the
existing Ordinary Shares of the Company.
Following Admission, the total number of Ordinary Shares in
issue will be 355,828,456 and the total number of voting rights
will therefore be 355,828,456. 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 Guidance and Transparency Rules.
Disclaimers:
FORWARD LOOKING STATEMENTS
This news release contains "forward-looking statements," which
can be identified by words like "may," "will," "likely," "should,"
"expect," "anticipate," "future," "plan," "believe," "intend,"
"goal," "seek," "estimate," "project," "continue" and similar
expressions. Forward-looking statements are neither historical
facts nor assurances of future performance. Instead, they are based
only on the Company’s current beliefs, expectations and assumptions
regarding the future of its business, future plans and strategies,
projections, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of the Company’s control. The information in this
news release about future plans and objectives of the Company,
including the expectation to complete the private placement and the
expected expenditure of the proceeds of the private placement, are
forward-looking information. The Company’s actual results and
financial condition may differ materially from those indicated in
the forward-looking statements. Therefore, you should not rely on
any of these forward-looking statements. Important factors that
could cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, market and other conditions, the principal risks and
uncertainties listed in our risk factors set forth in our Annual
Report and Financial Statements for the year ended December 31,
2019 and our Interim Report as of June 30, 2020.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This news release
does not constitute an offer of securities for sale in the United
States. The securities being offered have not been, nor will they
be, registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within the
United States absent registration under U.S. federal and state
securities laws or an applicable exemption from such U.S.
registration requirements.
About Argo:
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 London, UK and its
shares are listed on the Main Market of the London Stock Exchange
under the ticker: ARB.
argoblockchain.com
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version on businesswire.com: https://www.businesswire.com/news/home/20210118005314/en/
Argo Blockchain Peter Wall, Chief Executive Ian
MacLeod, Executive Chairman via Tancredi Tel: +44 203 434
2334
Corporate Broker - finnCap Ltd Jonny Franklin-Adams /
Kate Washington (Corporate Finance) Sunila de Silva
(Corporate Broking) Tel: +44 20 7220 0500
OTC Markets Jonathan Dickson
jonathan@otcmarkets.com Tel: +44 20 4526 4581 Tel: +44
7731815896
Media Relations UK and Europe Tancredi Intelligent
Communications Salamander Davoudi salamander@tancredigroup.com
Tel: +44 7957 549 906 Emma Valgimigli emma@tancredigroup.com Tel:
+44 7727 180 873
North America Wachsman argo@wachsman.com Tel:
+1-212-835-2511
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