Bitfarms Announces Results of Special General Meeting - Seite 4

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the ability to receive further drawdowns under the Loan Financing which are based on expansion milestones and ongoing satisfaction of debt covenants; risks relating to debt service and debt covenants; uncertainties associated with the Arrangement including risks relating to the receipt of applicable shareholder approvals and completion of the Arrangement or termination of the Arrangement in certain circumstances; risks relating to certain directors and officers of the Company possibly having interests in the Arrangement that are different from other shareholders; global economic climate; dilution; Bitfarms’ limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Bitfarms to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Bitfarms and the industry; network security risks; the ability of Bitfarms to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future result of the business of Bitfarms include but are not limited to: the construction and operation of blockchain infrastructure may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the ability to receive further drawdowns under the Loan Financing is not assured in the event that all or a portion of the prescribed expansion milestones are not attained or debt covenants are not otherwise satisfied throughout the term of the Loan Financing; the ability to service debt obligations and maintain flexibility in respect of debt covenants pursuant to the Loan Financing; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; the volatility of digital currency prices; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and there will be no regulation or law that will prevent Backbone from operating its business. The Company has also assumed that no significant events occur outside of Bitfarms’ normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. For a more detailed description of the risk factors and uncertainties affecting the Company, refer to the Company's reports filed from time-to-time with the Israeli Securities Authority and the Tel-Aviv Stock Exchange. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.