BIGG Digital Assets Inc. Closes $28 Million Bought Deal Fina BIGG Digital Assets Inc. Closes $28 Million Bought Deal Financing
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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 bought deal public offering (the “Offering”) for aggregate gross proceeds of $28,980,000 (all figures are in Canadian dollars unless otherwise stated). A total of 13,800,000 units (the “Units”) of the Company were sold pursuant to the Offering at a price of $2.10 per Unit. The Offering was conducted by a syndicate of underwriters led by PI Financial Corp. and included Canaccord Genuity Corp. and Echelon Wealth Partners. The number of Units includes an additional 1,800,000 Units pursuant to the exercise of the Underwriters’ over-allotment option.
Each Unit consists of one common share (a “Common Share”) in the capital of the Company and one-half (1/2) of one Common Share purchase warrant (each whole warrant, a “Warrant”) of the Company. Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $2.70 per Common Share for a period of 24 months from the closing of the Offering. The Units issued under the Offering were offered by way of a short form prospectus dated April 9, 2021 (the “Prospectus”) filed in each of the provinces of Canada (other than Qubec). A copy of the Prospectus is available under the Company’s profile on SEDAR at www.sedar.com.
The Company intends to use the proceeds of the Offering for cryptocurrency trading floats for Netcoins, and working capital.