Argo Blockchain PLC has announced a private placement of its ordinary shares and accompanying warrants to an institutional investor, generating approximately GBP £6.5 million. The company will issue 57,800,000 Ordinary Shares at a purchase price of GBP £0.1125 per share, along with warrants to purchase up to 57,800,000 Ordinary Shares. The net proceeds will be utilized for working capital, general corporate purposes, and the repayment of indebtedness.

The issuance price is at a premium to the 30-day VWAP, 60-day VWAP, and 90-day VWAP, and at a 10% discount to the closing middle market price of an Ordinary Share on the London Stock Exchange on 29 July 2024. H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.

The Placement Shares and Warrant Shares, if exercised, will be admitted to the Official List and to trading on the Main Market of the London Stock Exchange. Following Admission, the total number of Ordinary Shares in issue will be 636,352,148, and the total number of voting rights will be 636,352,148.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and 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.

The announcement also contains forward-looking statements, highlighting 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. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements.

For further information, please contact Argo Blockchain plc Investor Relations at [email protected].