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VANCOUVER, British Columbia, April 16, 2021 (GLOBE NEWSWIRE) – BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W) is pleased to announce that it has successfully completed its previously announced public offering purchased deal (the “Offering”) for aggregate gross proceeds of $ 28,980,000 (all figures are in Canadian dollars unless otherwise stated). In total, 13,800,000 units (the “Units”) of the Company were sold under the Offering at a price of $ 2.10 per Share. The Offering was operated by a syndicate of insurers led by PI Financial Corp. and included Canaccord Genuity Corp. and Echelon Wealth Partners. The number of Units includes 1,800,000 additional Units following the exercise of the Underwriters’ over-allotment option.
Each Unit consists of one ordinary share (an “Ordinary Share”) in the capital of the Company and one half (1/2) of one Purchase Warrant for Ordinary Shares (each full warrant, a “Warrant”) of the Company. Each Warrant entitles its holder to acquire one Ordinary Share at an exercise price of $ 2.70 per Ordinary Share over a period of 24 months from the closing of the Offering. The Units issued under the Offering were offered by way of an abbreviated prospectus dated April 9, 2021 (the “Prospectus”) filed in each of the provinces of Canada (except Quebec). A copy of the prospectus is available under the Company Profile on SEDAR at www.sedar.com.
The company plans to use the proceeds from the offering to trade cryptocurrencies for Netcoins and working capital.
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SALE OR A REQUEST FOR AN OFFER TO PURCHASE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 AS AMENDED (THE “US SECURITIES ACT”) OR ANY STATE SECURITY LAWS AND CANNOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, OR REGISTERED TO OUR PERSONS THE US SECURITIES ACT AND APPLICABLE STATE SECURITY LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
On behalf of the Board
The CSE assumes no responsibility for the suitability or accuracy of this press release.
About BIGG Digital Assets Inc.
BIGG believes the future of crypto is a secure, compliant and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (netcoins.ca).
Blockchain Intelligence Group (BIG) has developed a Blockchain agnostic search and analysis engine, QLUE ™, that enables law enforcement, RegTech, regulators and government agencies to visually track, track and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, provides a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges and retailers to meet traditional regulatory / compliance requirements.
Netcoins develops brokerage and exchange software to make cryptocurrency buying and selling easily accessible to the mass consumer and investor with a focus on compliance and security. Netcoins uses BitRank Verified® software at the heart of its platform and facilitates crypto trading through a self-service crypto brokerage portal on Netcoins.app.
Visit our website at https://www.biggdigitalassets.com for more information and to sign up for the BIGG mailing list. Or visit SEDAR at www.sedar.com.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including but not limited to statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, the expected use of the proceeds from the Offering and the The Company’s beliefs about the future of crypto are “forward-looking statements”. Forward-looking information may be identified through the use of words such as “will” or “believe” or variations of such words or statements that certain actions, events or results “will” be taken, occurred or achieved. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations on which they are based will materialize. By their nature, forward-looking statements involve many assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not materialize. These assumptions, risks and uncertainties include the state of the economy in general and capital markets in particular, and other factors, many of which are outside BIGG’s control. Forward-looking statements in this press release are expressly qualified by this cautionary statement. No undue reliance should be placed on the forward-looking information, as BIGG cannot guarantee that it will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include consumer confidence in BIGG’s products and Blockchain technology in general, technology errors, competition and counterparties’ failure to meet their contractual obligations. .
The forward-looking statements in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intent and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, BIGG assumes no obligation to comment on the expectations or statements of third parties with respect to the matters discussed above.