Cryptocurrency company Argo Blockchain plc (LON:ARB) announces that following the successful completion of the sale of the Helios facility to Galaxy Digital Holdings Ltd, Alex Appleton has resigned from his positions as Chief Financial Officer and Executive Director to pursue other opportunities.

Argo has engaged an executive search firm to assist with the process of selecting a replacement Chief Financial Officer. The company has also engaged BDO Canada LLP to assist the Company’s Chief Operating Officer, Seif El-Bakly, CFA, with accounting and advisory services during the search phase.

Mr. Appleton said:

“I am very proud of what we have achieved over my time with Argo. The business has great potential, and I wish the Argo team all the best for the future.”

Argo Chief Executive Peter Wall said:

“On behalf of the Argo team, I thank Alex for his hard work and significant contributions during his two and a half years with the Company.”

In December 2022, Argo Blockchain warned it was at risk of having insufficient cash to support ongoing business operations within the coming month.

The company said back then it was in advanced negotiations with a third party to sell certain assets and engage in an equipment financing transaction that the company believes will strengthen its balance sheet and improve its liquidity.