Mr. Lance Morginn reports
BIG BLOCKCHAIN INTELLIGENCE GROUP INC. ANNOUNCES
COMPLETION OF ACQUISITION
Big Blockchain Intelligence Group Inc., formerly Acana Capital Corp., has completed its previously announced acquisition of
Blockchain Technology Group Inc. In connection with the transaction, the
company has changed its name to Big Blockchain Intelligence Group Inc. The transaction
constitutes a fundamental change pursuant to Policy 8 (Fundamental Changes and Change of
Business) of the Canadian Securities Exchange, and the company will carry on
the business of Blockchain.
The exchange issued its conditional approval of the transaction on Nov. 28, 2017. The
company's common shares will resume trading on the exchange under
the new ticker symbol, BIGG, after the exchange's conditions for listing are satisfied and the
exchange issues its final exchange bulletin confirming the completion of the transaction. The
company's common shares are anticipated to resume trading next week.
The focus of the company's business going forward will be the development and marketing of
its principal products QLUE.io, BitRank and Blockbits.
Additional information in respect of the company's business is available in the company's
listing statement dated Nov. 30, 2017, available under the company's profile on
SEDAR.
Pursuant to the transaction, the company issued to the shareholders of Blockchain an aggregate
of 37,939,483 common shares for all of the issued and outstanding shares of Blockchain.
Outstanding Blockchain common share purchase warrants by their terms, and adjusted pursuant
to the share exchange agreement, became exercisable for an aggregate of 11,424,520 common shares. Outstanding Blockchain options by their terms, and adjusted pursuant to the share
exchange agreement, became exercisable for an aggregate of 5,444,695 common shares.
With the completion of the transaction, the company has 73,758,877 common shares issued
and outstanding (on an undiluted basis). The principals of the company collectively hold
25,781,130 common shares, all of which are subject to an escrow agreement pursuant to the
policies of the exchange.
In connection with the completion of the transaction, the company is pleased to announce its
board of directors as follows: Shone Anstey, Lance Morginn, Diana Kim Evans, Anthony Zelen,
Thomas Kennedy and Robert Birmingham. In addition, the company is pleased to announce its
executive management as follows:
-
Lance Morginn, chief executive officer;
- Shone Anstey, president and executive chairman;
- Diana Kim Evans, chief financial officer.
Early warning disclosure
In connection with the transaction, Mr. Anstey and Mr. Morginn each acquired 9,619,098 and 9,418,172 shares, representing 13.0 per cent and 12.8 per cent, respectively,
of the current issued and outstanding common shares. A total of 581,343 common shares of Mr. Anstey's 9,619,098 common shares were issued to XPC Technology Services, an entity
controlled by Mr. Anstey. A total of 1,112,194 common shares of Mr. Morginn's 9,418,172 common shares were issued to 24 Hour Matrix System Inc., an entity controlled by Mr. Morginn.
Immediately prior to the transaction, both Mr. Anstey and Mr. Morginn held no securities
of the company. The early warning report required by National Instrument 62-103 (the Early
Warning System and Related Take-Over Bid and Insider Reporting Issues) will be filed under the
company's profile at SEDAR or by contacting Mr. Morginn at 1-884-282-2140.
We seek Safe Harbor.
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