Closing of Fundraising

THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR") AS RETAINED AS PART OF THE LAW OF ENGLAND AND WALES.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 

08 March 2021

Argo Blockchain PLC

("Argo" or the "Company")

Closing of Fundraising

Argo, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce that, further to its announcement at 5.00 pm. today (the "Fundraising Announcement"), it has successfully completed the Fundraising which is now closed.

The Fundraising has raised approximately £26.8 million through the placing of 9,638,189 new Ordinary Shares, an offer for subscription conducted by PrimaryBid Limited of 3,399,433 new Ordinary Shares and subscription of 361,977 new Ordinary Shares to certain US investors, all at an Issue Price of 200 pence per share.

Net proceeds of the Fundraising will be used to fund the Pluto Investment as described in the Fundraising Announcement, pursue strategic opportunities in crypto mining, capital investment, DeFI/Web 3.0 initiatives, and general working capital purposes.

Admission and Total Voting Rights

The Fundraise of 13,399,599 new Ordinary Shares is conditional on Admission, and is being carried out within the Company's existing share authority to issue Ordinary Shares for cash.

It is expected that the Fundraising Shares will be admitted to trading on the Main Market of the LSE on 12 March 2021 (or such later date as may be agreed between the Company and finnCap, but no later than 18 March 2021).

Following the Admission of the Fundraising Shares, the total number of Ordinary Shares in the Company in issue will be 381,761,289. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

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This announcement contains inside information as defined in Article 7 of MAR. Market Soundings, as defined in MAR, were taken in respect of the proposed Placing with the result that certain persons became aware of this inside information, as permitted by MAR. Upon the publication of this Announcement, this inside information is now considered to be in the public domain.

About Argo:

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company's shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.

argoblockchain.com