BIGG Digital Assets Inc. Provides Update Regarding Delays in its Annual Filings
VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W) today announces a delay in
the filing of its annual financial statements and related MD&A for the year ended December 31, 2020 (collectively, the "Annual Filings"). The Company did not file its Annual Filings by the
regular filing deadline of April 30, 2021, due to delays in the auditing process. The delays are directly related to the volume of audit testing required given the significant growth experienced by
the Company in 2020, are unique to the emerging cryptocurrency industry, and are not expected to continue in the future. The Company’s personnel are working diligently to complete the Annual
Filings and the Company currently expects to file the Annual Filings on or about May 28, 2021.
The Company has made an application to the British Columbia Securities Commission, as its principal regulator, under National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") requesting that a management cease trade order ("MCTO") be imposed in respect of the late filing of the Annual Filings. The issuance of a MCTO will not generally affect the ability of persons who are not officers or directors of the Company to trade in the Company’s securities. The MCTO will prohibit the chief executive officer, the chief financial officer, and possibly the directors or other officers of the Company from trading in securities of the Company for so long as the Annual Filings are not filed.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases so long as it remains in default of filing the Annual Filings.
On behalf of Board
The CSE does not accept responsibility for the adequacy or accuracy of this press release.
About 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).
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.