11:27:01 EDT Tue 21 May 2024
Enter Symbol
or Name
USA
CA



Bigg Digital Assets Inc
Symbol BIGG
Shares Issued 321,848,939
Close 2024-03-07 C$ 0.25
Market Cap C$ 80,462,235
Recent Sedar Documents

Bigg Digital increases private placement to $8-million

2024-03-08 09:43 ET - News Release

Mr. Dan Reitzik reports

BIGG DIGITAL ASSETS INC. ANNOUNCES UPSIZE OF BROKERED LIFE FINANCING FOR GROSS PROCEEDS OF UP TO C$8 MILLION

Due to demand from investors and existing shareholders on the president's list (defined below), Bigg Digital Assets Inc. has amended its agreement with A.G.P. Canada Investments ULC, as sole agent and bookrunner, to increase the maximum gross proceeds under the previously announced commercially reasonable efforts private placement from $5-million to $8-million.

Under the revised offering, up to a maximum of 33,333,333 units of the company may be sold at a price of 24 cents per unit, for aggregate gross proceeds of up to $8-million. Each unit will comprise one common share in the authorized share structure of the company plus one share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of 30 cents for 60 months following the completion of the offering.

The units to be issued under the offering will be offered to purchasers pursuant to the listed issuer financing exemption (LIFE exemption) under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, in all the provinces of Canada, except Quebec. The units offered under the LIFE exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws. The units may also be offered to persons in the United States pursuant to exemptions from the registration requirements under the United States Securities Act of 1933, as amended, and all applicable U.S. state securities laws, as well as outside Canada and the United States on a basis which does not require the qualification or registration of any of the company's securities or require the company to be subject to any continuing disclosure requirements under any domestic securities laws.

There is an amended offering document related to the LIFE exemption portion of the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this amended offering document before making an investment decision.

The company plans to use the net proceeds from the offering for advertising and marketing activities for each of its business divisions, expansion of the TerraZero development team, Netcoins's Canadian Investment Regulatory Organization (CIRO) application, expansion of the Netcoins sales team, increase in Netcoins's float for operational purposes, general working capital requirements for Netcoins, Blockchain Intelligence Group and TerraZero, and for general corporate purposes. The offering is scheduled to close on or about March 12, 2024, and is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals. The company has agreed to pay A.G.P. Canada a cash fee equal to 7 per cent of the gross proceeds from the offering and 3.5 per cent of the gross proceeds of the offering from purchasers on a president's list provided by the company. In addition, upon closing of the offering, the company has agreed to issue A.G.P. Canada non-transferable broker warrants equal to 7 per cent of the total number of units sold pursuant to the offering and 2 per cent of the total number of units sold to purchasers on the president's list. Each broker warrant will be exercisable for one share at a price of 30 cents per broker warrant, and is exercisable for a period of 60 months following the completion of the offering.

About Bigg Digital Assets Inc.

Bigg Digital Assets believes the future of crypto is a safe, compliant and regulated environment. Bigg invests in products and companies to support this vision. Bigg has three portfolio companies: Netcoins, Blockchain Intelligence Group and TerraZero.

We seek Safe Harbor.

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