VANCOUVER, British Columbia, Oct. 10, 2019 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTC:BBKCF; WKN: A2JSKG), a digital assets holding company, announces its intention to acquire for cancellation, by way of a normal course issuer bid (the “Bid”), up to an aggregate $500,000 worth of existing common shares of the Company (the “Shares”). 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 CEO, Mark Binns.
As of October 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% of the issued and outstanding Shares. Pursuant to the NCIB, the Company may acquire up to 7,150,679 Shares, representing 5% of the issued and outstanding Shares. The Company has appointed PI Financial Corp. to coordinate and facilitate its NCIB purchases. Purchases are expected to commence through the CSE and/or alternative trading systems on or about October 16, 2019 and will conclude on the earlier of the date on which purchases under the bid have been completed or on October 16, 2020. All Shares purchased by the Company will be cancelled.
On behalf of the Board,
Chief Executive Officer
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (gonetcoins.com).
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and enables crypto transactions via retail locations globally, a self-serve crypto brokerage portal and an Over-The-Counter (OTC) trading desk.
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.