Argo Blockchain PLC Announces Proposed Public Offering

Argo Announces Proposed Public Offering of 8.75% Senior Notes Due 2026

LONDON, ENGLAND / ACCESSWIRE / Novemeber 8, 2021 / Argo Blockchain, a global leader in cryptocurrency mining (LSE:ARB) (NASDAQ:ARBK), announced today that it has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission (the "SEC") relating to its proposed public offering (the "Offering") of 8.75% Senior Notes due 2026 (the "Notes"). Argo plans to offer the Notes in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof. The Company intends to use the net proceeds from this Offering for general corporate purposes, the construction of, and purchase of mining machines for, its Texas cryptocurrency mining facility and potentially acquisitions of, or investments in, complementary businesses in the cryptocurrency and blockchain technology industries.

In connection with the Offering, Argo has applied to list the Notes on the Nasdaq Global Select Market ("Nasdaq") under the symbol "ARBKL." If approved for listing, trading on Nasdaq is expected to commence within 30 business days after the Notes are first issued.

The Company and this issuance of Notes received a "B" rating from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.

B. Riley Securities, Inc., D.A. Davidson & Co., Ladenburg Thalmann & Co. Inc. and William Blair & Co., L.L.C. will act as joint book-running managers for the Offering. EF Hutton, division of Benchmark Investments, LLC will act as lead manager for the Offering. Aegis Capital Corp., Alexander Capital L.P., Colliers Securities LLC, Northland Securities, Inc., Revere Securities LLC, Wedbush Securities Inc. and B.C. Ziegler & Company will act as co-managers for the Offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes may only be offered and sold under the Company's registration statement on Form F-1, which has been filed with the Securities and Exchange Commission ("SEC") but has not yet become effective. The Notes may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. A copy of the registration statement is available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus related to the Offering may be obtained from the offices of B. Riley Securities, Inc. at 1300 North 17th Street, Suite 1400, Arlington, VA 22209, by calling (703) 312‐9580 or by emailing [e-mail].