Replies to post #5040 on Bit Brother Ltd (BETSF)

[Helter Skelter]

Bit Brother's Board of Directors Forms a Special Task Force to Investigate Suspected Illegal Short of its Stock
NEWS PROVIDED BY Bit Brother Limited

CHANGSHA, China, Jan. 20, 2023 /PRNewswire/ -- Bit Brother Limited ("Bit Brother", "BTB", "We" or the "Company") (NASDAQ: BTB) announced today that its Board of Directors has approved the formation of a Special Task Force to address suspected illegal shorting of its stock. The Special Task Force plans to engage competent counsel and/or investigation professionals and to take all possible actions to identify and prosecute those involved in the market manipulation of BTB's stock, especially the institutions or individuals involved in illegal naked short selling. The Special Task Force is comprised of Mr. Xianlong Wu, Chairman of the Board and CEO of BTB, Ms. Diyu Jiang, Director and CFO of BTB, and Mr. Ralph Jones, Director of BTB and CEO of its subsidiary, Bit Brother New York Inc.

The Company plans to utilize all reasonable resources to conduct the investigation. Management believes that the formation of the Special Task Force would help expose those who may have participated in market manipulation of the Company's stock. The Board believes that this action will deter any future manipulation of the market by exposing and persecuting naked short sales of the Company's stock and other violations.

About Bit Brother Limited

Bit Brother Limited (formerly known as Urban Tea, Inc.) was incorporated in the British Virgin Islands as a company with limited liability on November 28, 2011. Our business currently consists of cryptocurrency mining in North America and the distribution and retail of specialty tea products. For more information, please visit: www.bitbrother.com.

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