CHANGSHA, China, Jan. 24,
2023 /PRNewswire/ -- Bit Brother Limited ("Bit
Brother", "BTB", "We" or the "Company") (NASDAQ: BTB) announced
today the Special Task Force has taken and plan to take following
actions to address the suspected illegal shorting of its stock:
- Started collecting evidence and may seek help from regulatory
authorities.
- Reached out legal counsels and shareholder intelligence service
firms about engagement of these professionals.
- conducted preliminary analysis of potential corporate actions
including but not limited to share repurchase, special dividend,
and dual listing.
In addition, Ralph Jones, CEO of
the Company's subsidiary Bit Brother New York Inc, and a member of
the Special Task Force, will hold a live broadcast on Reddit to
communicate with investors in the morning of January 25, 2023. For more information on time
and link of the live broadcast, please refer to announcement from
BTB's official Twitter @BitBrotherLtd.
The Board of Directors believes that the above actions should
effectively expose and curb companies or individuals that have
profited or are about to profit through naked short selling and
other illegal trading activities. The Company is committed to take
all necessary actions to deter manipulation of the market.
About Bit Brother Limited
Bit Brother Limited (formerly known as Urban Tea, Inc.) was incorporated in the
British Virgin Islands as a
company with limited liability on November
28, 2011. Our business currently consists of
cryptocurrency mining in North America and the distribution and retail
of specialty tea products. For more information, please
visit: www.bitbrother.com.
Forward-Looking Statements Disclaimer
This press release contains certain statements that may include
"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including the risk factors discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these risk factors. Other than as required under the
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
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SOURCE Bit Brother Limited