TIDMARB
RNS Number : 8835Y
Argo Blockchain PLC
19 January 2022
Press Release
19 January 2022
Argo Blockchain PLC
("Argo" or "the Company")
Update on Argo Labs
Argo Blockchain Plc (LSE: ARB; NASDAQ: ARBK), a global leader in
cryptocurrency mining, is pleased to announce an update on Argo
Labs, its in-house innovation arm established to identify
opportunities within the disruptive and innovative sectors of the
cryptocurrency ecosystem while supporting the decentralization of
various blockchain protocols. Argo has allocated approximately 10%
of the Company's crypto assets in its "HODL" to Argo Labs.
Argo Labs is primarily focused on two key areas: network
participation and strategic diversification through the efficient
deployment of the Company's crypto treasury assets . Network
participation consists of providing infrastructure support, running
nodes and validators, and staking innovative projects. Efficient
deployment of the Company's crypto treasury assets includes, among
other things, supporting early-stage projects and participating in
decentralized finance (DeFi), as well as the NFT & metaverse
ecosystem, in each case in furtherance of the Company's general
business operations.
Coinciding with this update, the Company is pleased to announce
the appointment of Vakeesan Mahalingam, CFA, as Head of Argo Labs .
With over 8 years of experience in the investment industry, and 3
years in consultancy, including working with crypto startups,
Vakeesan is well versed to lead this new division of Argo
Blockchain. Vakeesan will be overseeing a multi-talented, dynamic
team of blockchain network experts and technologists and will
oversee the growth and development of Argo Labs.
Vakeesan Mahalingam, Head of Argo Labs, said: " Our vision at
Argo Labs is to support the Company's mining efforts by engaging
with the disruptive and innovative sectors of the crypto ecosystem.
We are committed to growing all facets of this industry, and look
forward to spearheading this effort alongside my talented
colleagues ."
Peter Wall, Chief Executive of Argo and Interim Chairman, said :
"Argo has long been a supporter of the proliferation of crypto and
blockchain technology. Argo Labs gives us the opportunity to
integrate cryptocurrencies into existing financial infrastructure,
gain exposure to the wider digital asset ecosystem, and provide
long-term value to our shareholders."
Forward-Looking Information
This announcement contains forward-looking statements which
reflect the Company's or, as appropriate, the Directors' current
views, interpretations, beliefs, or expectations with respect to
the Company's financial performance, business strategy and plans
and objectives of management for future operations. These
statements include forward-looking statements both with respect to
the Company and the sector and industry in which the Company
proposes to operate. Statements which include the words "expects",
"intends", "plans", "believes", "projects", "anticipates", "will",
"targets", "aims", "may", "would", "could", "continue", "estimate",
"future", "opportunity", "potential" or, in each case, their
negatives, and similar statements of a future or forward-looking
nature identify forward-looking statements.
All forward-looking statements address matters that involve
risks and uncertainties because they relate to events that may or
may not occur in the future. Forward-looking statements are not
guarantees of future performance. Accordingly, there are or will be
important factors that could cause the Company's actual results,
prospects, and performance to differ materially from those
indicated in these statements. In addition, even if the Company's
actual results, prospects and performance are consistent with the
forward-looking statements contained in this document, those
results may not be indicative of results in subsequent periods.
These forward-looking statements speak only as of the date of
this announcement. Subject to any obligations under the Prospectus
Regulation Rules, the Market Abuse Regulation, the Listing Rules
and the Disclosure and Transparency Rules and except as required by
the FCA, the London Stock Exchange, the City Code or applicable law
and regulations, the Company undertakes no obligation publicly to
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise.
For a more complete discussion of factors that could cause our
actual results to differ from those described in this announcement,
please refer to the filings that Company makes from time to time
with the United States Securities and Exchange Commission and the
United Kingdom Financial Conduct Authority, including the section
entitled "Risk Factors" in the Company's Registration Statement on
Form F-1.
For further information please contact:
Argo Blockchain
Peter Wall via Tancredi +44 203 434 2334
Chief Executive
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finnCap Ltd
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Corporate Finance
Jonny Franklin-Adams
Tim Harper
Joint Corporate Broker
Sunila de Silva +44 207 220 0500
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Tennyson Securities
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Joint Corporate Broker
Peter Krens +44 207 186 9030
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OTC Markets
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Jonathan Dickson +44 204 526 4581
jonathan@otcmarkets.com +44 7731 815 896
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Tancredi Intelligent Communication
UK & Europe Media Relations
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Emma Valgimigli
Emma Hodges +44 7727 180 873
Salamander Davoudi +44 7861 995 628
argoblock@tancredigroup.com +44 7957 549 906
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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 and on the NASDAQ Global Select Market in the
United States under the ticker: ARBK.
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