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     465  0 Kommentare Bitfarms Issues Statement Regarding Riot Platforms’ Attempts to Disrupt Ongoing Strategic Alternatives Review Process

    -Bitfarms Board of Directors Remains Committed to Maximizing Value for All Shareholders-

    -Continues to Welcome Riot’s Participation in Ongoing Strategic Alternatives Review Process-

    This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Ontario and BROSSARD, Québec, June 12, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) (the “Company” or “Bitfarms”), a global vertically integrated Bitcoin mining company, today issued the following statement in response to comments made by Riot Platforms, Inc. (Nasdaq: RIOT) (“Riot”):

    The Bitfarms Board of Directors and management team are committed to acting in the best interests of the Company and all of its shareholders. Following the receipt of multiple unsolicited expressions of interest from third parties, the Bitfarms Board formed a Special Committee comprised solely of independent directors to consider the unsolicited proposals, including an unsolicited proposal from Riot received on April 22, 2024. After carefully reviewing and evaluating Riot’s proposal, the Special Committee determined that the proposal significantly undervalues Bitfarms and is not in the best interest of shareholders.

    The Special Committee has welcomed Riot’s interest in the Company and participation in the ongoing Strategic Alternatives Review Process, including by agreeing to the standstill term proposed by Riot. Riot declined to participate in the process and instead has continued to acquire common shares of the Company in the open market in an attempt to undermine the integrity of the process and harm the interests of the Company. It is clear that Riot’s interests are not aligned with those of Bitfarms shareholders, and instead of participating in the Special Committee’s process in good faith, Riot is attacking Bitfarms’ Board and corporate governance in an effort to push its low-ball bid and disrupt the Strategic Alternatives Review Process.

    The Shareholder Rights Plan adopted by the Company on June 10, 2024, does not preclude Riot, or any other shareholder, from making an unsolicited take-over bid, nor making director nominations. Instead, it preserves the integrity of the Strategic Alternatives Review Process so the Special Committee can continue working towards value maximization for all shareholders. Riot’s comments make clear their frustration lies in no longer being able to tilt the scale towards their opportunistic non-binding offer, cloaked in vague concerns about corporate governance.

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    Bitfarms Issues Statement Regarding Riot Platforms’ Attempts to Disrupt Ongoing Strategic Alternatives Review Process -Bitfarms Board of Directors Remains Committed to Maximizing Value for All Shareholders- -Continues to Welcome Riot’s Participation in Ongoing Strategic Alternatives Review Process- This news release constitutes a “designated news release” for the …

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