Argo Blockchain Says Company at Risk of Having Insufficient Cash

Argo Blockchain said it’s at risk of having insufficient cash to support ongoing business operations within the next month.

• The company is in advanced negotiations with a third party to sell certain assets, engage in an equipment financing transaction
• Hopeful that it will be able to consummate the transaction outside of a voluntary Chapter 11 bankruptcy filing in US
• Hired McDermott Will & Emery as legal advisers, Berkeley Research Group, as financial advisers, and Stifel GMP and its affiliate, Miller Buckfire & Co. as investment bankers
• Certain draft materials were inadvertently published as a test page on the company’s website ...