BIGG Digital Assets Inc. Announces Closing of Over-Allotment Option

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

VANCOUVER, British Columbia, Feb. 05, 2021 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W) is pleased to announce that the underwriters of its previously announced bought deal public offering (the “Offering”) partially exercised the over-allotment option resulting in the issuance of an additional 3,594,500 common shares (each an “Additional Common Share”) in the capital of the Company and an additional 1,800,000 purchase warrants (each an “Additional Warrant”) for additional gross proceeds to the Company of approximately $1,797,378. The partial exercise of the over-allotment option increases the total aggregate gross proceeds of the Offering to approximately $13,797,378 (all figures are in Canadian dollars unless otherwise stated).

Each Additional Warrant entitles the holder thereof to acquire one common share in the capital of the Company at an exercise price of $0.70 per Common Share for a period of 24 months from the closing of the Offering. The Additional Common Shares and Additional Warrants are being offered by way of a short form prospectus dated January 21, 2021 (the “Prospectus”) filed in each of the provinces of Canada (other than Québec).

The Offering was conducted by a syndicate of underwriters led by PI Financial Corp. and included Canaccord Genuity Corp. and Echelon Wealth Partners (collectively, the “Underwriters”). The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering.

The Company intends to use the net proceeds of the Offering as detailed in the Prospectus. A copy of the Prospectus is available under the Company’s profile on SEDAR at www.sedar.com.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.