Mr. Mark Binns reports
BIGG DIGITAL ASSETS INC. ANNOUNCES LAUNCH OF SHARE BUYBACK PROGRAM
Bigg Digital Assets Inc. intends to acquire for cancellation, by way of a normal course issuer bid, up to an aggregate $500,000 worth of existing common shares of the company. The actual number of shares that may be purchased under the bid, the value of the consideration per share and the exact timing of any such purchases will be determined by the company and will depend on, among other things, future market conditions.
"Bigg is commencing the bid because it believes that the market price of its shares does not reflect the intrinsic value of the company's business and future prospects," said Bigg chief executive officer Mark Binns.
As of Oct. 10, 2019, the company had 143,013,566 shares issued and outstanding. Under the NCIB program the company may, if considered advisable, purchase the shares through the facilities of the Canadian Securities Exchange (CSE) and/or alternative trading systems at the market price, from time to time over the next 12 months, but shall not, in any event, exceed 5 per cent of the issued and outstanding shares. Pursuant to the NCIB, the company may acquire up to 7,150,679 shares, representing 5 per cent of the issued and outstanding shares. The company has appointed PI Financial Corp. to co-ordinate and facilitate its NCIB purchases. Purchases are expected to commence through the CSE and/or alternative trading systems on or about Oct. 16, 2019, and will conclude on the earlier of the date on which purchases under the bid have been completed or on Oct. 16, 2020. All shares purchased by the company will be cancelled.
About Bigg Digital Assets Inc.
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