Bitfarms adopts new shareholder rights plan to protect interests and maximize value

From GlobeNewswire: 2024-07-24 21:04:13

Bitfarms Ltd. has announced the adoption of a new shareholder rights plan in response to a decision by the Ontario Securities Commission. The Board of Directors has unanimously approved the new plan to protect the interests of all shareholders and maximize value for the company. The New Rights Plan will prevent any unsolicited take-over bids without complying with Canadian take-over bid rules. It will be effective as of the Record Time on August 6, 2024, and subject to shareholder ratification within six months. If ratified, the plan will have an initial term of three years. Advisors Moelis & Company LLC, Skadden, Arps, Slate, Meagher & Flom LLP, Peterson McVicar LLP, and McMillan LLP are assisting Bitfarms in this process. Founded in 2017, Bitfarms is a global Bitcoin data center company with 12 operational data centers and two under development in Canada, the United States, Paraguay, and Argentina. Their commitment to using sustainable energy infrastructure sets them apart as a leader in the industry. To stay updated on their events and developments, visit their website at www.bitfarms.com.



Read more at GlobeNewswire: Bitfarms Issues Statement Regarding Decision by Capital