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BIGG Digital Assets Inc. Announces $25 Million Bought Deal Financing

BIGG Digital Assets | March 24, 2021

BIGG Digital Assets  - BIGG Digital Assets Inc. Announces $25 Million Bought Deal Financing

VANCOUVER, British Columbia, March 24, 2021 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by PI Financial Corp. (the “Lead Underwriter”) and including Canaccord Genuity Corp., and Echelon Wealth Partners (collectively with the Lead Underwriter, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 12,000,000 units of the Company (“Units”) at a price of C$2.10 per Unit for gross proceeds of C$25,200,000 (the “Offering”). Each Unit is comprised of one common share (each a “Common Share”) and one-half Common Share purchase warrant (each such full warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$2.70 for a period of 24 months following the closing of the Offering.

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The Company will grant the Underwriters an over-allotment option to increase the size of the Offering by up to 15% of the aggregate number of Units sold under the Offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the Offering, which may be exercised for Common Shares, Warrants or a combination thereof.

The Company intends to use the proceeds of the Offering for cryptocurrency trading floats for Netcoins, and working capital.

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