SHENZHEN, China, March 8, 2021 /PRNewswire/ -- 500.com Limited
(NYSE: WBAI) ("500.com" or the "Company"), an enterprise committed
to developing cryptocurrency mining businesses, today announced
that a majority of its Board of Directors (the "Board") resolved to
change the Company's (i) English name to "BIT Mining Limited" (the
"English Name Change"), subject to shareholder approval being
received for the English Name Change, (ii) Chinese business name to "比特矿业", and (iii) ticker symbol to
"BTCM."
Pursuant to the Company's Second Amended and Restated Articles
of Association, the English Name Change needs to be adopted by a
Special Resolution at a general meeting of shareholders. For the
purpose of seeking such shareholder approval, today a majority of
the Board also resolved to call an extraordinary general meeting of
shareholders (the "EGM") to consider the English Name Change. The
Company intends to announce and publish materials for the EGM in
due course.
About 500.com Limited
500.com Limited (NYSE: WBAI) is committed to becoming a leading
cryptocurrency mining enterprise in China. Since announcing its entry into the
cryptocurrency industry in December
2020, the Company has entered into definitive agreements to
(i) purchase cryptocurrency mining machines, (ii) acquire a
controlling stake in Loto Interactive Limited (HKEX: 08198), and
(iii) acquire the entire mining pool business of Bitdeer
Technologies Holding Company ("BitDeer") operated under BTC.com,
including the domain name BTC.com and the cryptocurrency wallet of
BTC.com (collectively, the "BTC.com Pool Businesses"), to unfurl a
comprehensive approach to cryptocurrency mining. 500.com is also an
online sports lottery service provider in China. The Company offers a comprehensive and
integrated suite of online lottery services, information, user
tools and virtual community venues to its users.
Safe Harbor Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"going forward," "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions, and relate to events that involve known
or unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
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SOURCE 500.com Limited
