Argo Blockchain PLC Announces Regained Compliance with Nasdaq

Rhea-AI Summary

Argo Blockchain has announced it has regained compliance with Nasdaq's minimum bid price requirement, as confirmed by a letter from Nasdaq's Listing Qualifications Department on January 23, 2023. The company was notified on December 16, 2022, that its stock fell below the required minimum bid price of $1.00. To regain compliance, Argo needed a minimum closing bid price of $1.00 for ten consecutive trading days, achieved on January 13, 2023. This compliance reinstatement is now confirmed as a closed matter by Nasdaq.

Positive

• Regained compliance with Nasdaq's minimum bid price rule.
• Achieved minimum closing bid price of $1.00 for ten consecutive trading days.

Negative

• None.

Regained Compliance with Nasdaq's Minimum Bid Price Rule

LONDON, ENGLAND / ACCESSWIRE / January 23, 2023 / Argo Blockchain plc ("Argo" or "the Company"), a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to announce that it has received a letter from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") informing the Company that it has regained compliance with Nasdaq Listing Rule 5450(a)(1),

As announced on 16 December, 2022, Argo was notified by Nasdaq that its common stock had not maintained the minimum bid price of $1.00 over the previous thirty consecutive business days, as required by the Listing Rules of the Nasdaq Stock Market. To regain compliance, the Company was required to maintain a minimum closing bid price of $1.00 for ten consecutive trading days. This requirement was met on 13 January 2023. Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1), and Nasdaq has confirmed to the Company that it considers this matter closed.

For further information please contact:

Argo Blockchain
Peter Wall Chief Executive	ir@argoblockchain.com
finnCap Ltd
Corporate Finance Jonny Franklin-Adams Seamus Fricker Joint Corporate Broker Sunila de Silva	+44 207 220 0500
Tennyson Securities
Joint Corporate Broker Peter Krens	+44 207 186 9030
Tancredi Intelligent Communication UK & Europe Media Relations
Salamander Davoudi Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed	argoblock@tancredigroup.com

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. For more information, visit www.argoblockchain.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Argo Blockchain PLC

View source version on accesswire.com:
https://www.accesswire.com/736219/Argo-Blockchain-PLC-Announces-Regained-Compliance-with-Nasdaq

FAQ

What did Argo Blockchain announce on January 23, 2023?

Argo Blockchain announced that it has regained compliance with Nasdaq's minimum bid price requirement.

Why was Argo Blockchain at risk of Nasdaq delisting?

Argo Blockchain was at risk of delisting because its stock did not maintain a minimum bid price of $1.00 for thirty consecutive business days.

When did Argo Blockchain regain compliance with Nasdaq?

Argo Blockchain regained compliance on January 13, 2023.

What is the stock symbol for Argo Blockchain?

The stock symbol for Argo Blockchain is ARBK.

What requirement did Argo Blockchain meet to regain Nasdaq compliance?

Argo Blockchain needed to maintain a minimum closing bid price of $1.00 for ten consecutive trading days to regain Nasdaq compliance.