VANCOUVER, British Columbia, May 25, 2020 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), provides an update with respect to the postposed filing of its annual financial statements and related management discussion and analysis for the year ended December 31, 2019 (together the “Required Annual Filings”).
BIGG previously announced that it expected the Required Annual Filings to be filed no later than May 31, 2020. However, due to continued COVID-19 related delays, BIGG requires additional time and expects to file the Required Annual Filings no later than June 13, 2020.
The Company further announces that filing of its unaudited interim quarterly financial statements and accompanying management’s discussion and analysis for the quarter ended March 31, 2020 (collectively the “Interim Filings”) will be postponed due to delays caused by the COVID-19 pandemic. The Interim Filings would ordinarily have been filed on or before June 1, 2020, the required deadline set by NI 51-102. BIGG is relying on the exemption adopted by the British Columbia Securities Commission ("BCSC") and provided in BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements ("Blanket Exemption Order"), which provides the Company with an additional 45 days to complete its Interim Filings, which includes the following continuous disclosure documents:
- the Company's unaudited financial statements for the quarter ended March 31, 2020 as required by section 4.4 of NI 51-102; and
- the Company's Management’s discussion and analysis for the quarter ended March 31, 2020 as required by section 5.1(2) of NI 51-102.
The Company expects to file the Interim Filings no later than July 14, 2020.
As required by BC Instrument 51-515 (Ontario Instrument 51-502, the Company discloses the following:
- the Company’s management and other insiders will be subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 until the Required Annual Filings are filed on SEDAR;
- other than as previously disclosed by the Company, there have been no other material business developments since April 24, 2020, the date that the Company announced it would rely on the Blanket Exemption Order.
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 (netcoins.ca).
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.
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.
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.