VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions and Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, is pleased to announce the closing of a non-brokered private placement, subject to regulatory approvals, for gross proceeds of $525,000 (the “Private Placement”) to Indigo IP Holdings Ltd. (“Indigo”) and a private investor, through the issuance of 2,282,609 units (the “Units”) of the Company at a price of $0.23 per Unit, each Unit consisting of one common share and one warrant exercisable for one common share at a price of $0.27. An additional 114,130 Units were issued to cover investor costs associated with the Private Placement.
The warrants are subject to an accelerated expiry clause whereby if the closing price of the Company’s shares is $0.40 or greater for a period of twenty (20) consecutive trading days, at any time prior to September 17, 2022, the Company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after provision of the notice.
Indigo is an investment arm of Calvin Ayre, a key investor and advocate of Bitcoin SV (Satoshi Vision). Bitcoin SV is the Bitcoin blockchain that follows creator Satoshi Nakamoto’s original protocol and design for massive scaling. It recognizes Bitcoin as more than just a digital currency and blockchain, but also a protocol for the world’s data network similar to Internet protocol. The Bitcoin SV ecosystem views low fee peer to peer transactions as the core value proposition of the data network and is dedicated to unbounded scaling and massive on-chain transaction throughput by enterprises in pursuit of this goal. Bitcoin SV supporters also identify the value of Bitcoin as an honest, transparent, and auditable ledger.
On July 29, 2020, BIG announced that Bitcoin SV had been launched as part of the BIG Compliance Suite v1.17 (https://qlue.io/ and https://bitrankverified.com/) . Subsequently, Indigo IP declared interest in a strategic investment in BIGG, based on the outstanding quality of the BIG Compliance Suite software and its value to the Bitcoin SV ecosystem.
As part of this investment, Netcoins also plans to list the Bitcoin SV digital currency (BSV) for trading. With the inclusion of Bitcoin SV, Netcoins will have eight digital assets available to its user base.
Mr. Ayre comments, “When I learned of BIG’s decision to add BSV support to its Compliance Suite, I was impressed by how BIG understands Bitcoin SV’s immense potential and future use at business scale. Its blockchain intelligence tools are outstanding and will help advance legal compliance in the use of digital assets, which is key to win enterprise-level adoption. With Netcoins also deciding to launch BSV trading, the BIGG parent company further showed that it understands the Bitcoin SV vision, making it easy for me to invest in this forward-thinking company.”
Jimmy Nguyen, Founding President of Bitcoin Association (the global industry organization that supports Bitcoin SV), remarked on today’s announcement, saying, “We are thrilled that Netcoins will list BSV for trading, giving users in many countries another fiat onramp to acquire Bitcoin SV. This comes at an excellent time as interest in BSV grows around the globe, and we are pleased that BIGG sees business value in expanding its participation in the Bitcoin SV ecosystem.”
BIGG’s CEO, Mark Binns, commented, “We are excited to welcome Calvin Ayre as a strategic investor in BIGG. Calvin has seen…