BIGG Digital Assets Enters into Definitive Agreement to Fully Acquire TerraZero Technologies Inc.

VANCOUVER, British Columbia, Aug. 25, 2023 (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 a definitive amalgamation agreement (“Agreement”) to acquire all of the outstanding shares of TerraZero Technologies Inc. (“TerraZero”) not already owned by BIGG, for total consideration of approximately 62 million common shares of BIGG (“BIGG Shares”), valued at approximately $20 million (the “Transaction”). TerraZero is a leader in the Web3/Metaverse sector with a roster of clients that include Miller Lite, PwC, Atlantic Records, Warner Records and prominent brands across the industries of finance, beauty, consumer packaged goods, food and beverage, and others. The Transaction is expected to close in September 2023 and is subject to TerraZero shareholder approval, notification to the Canadian Securities Exchange (the “CSE”) and other customary closing conditions.

“At BIGG, we have been dedicated to investing in or acquiring early stage leaders in their markets, and that is exactly what TerraZero has accomplished in a very short period of time. The addition of TerraZero as a wholly-owned subsidiary of BIGG gives our shareholders further diversity and reach into the metaverse business. TerraZero will strengthen our balance sheet, add new revenue streams, and perhaps most importantly provide a blue sky opportunity via their Intraverse product for mindshare and marketshare in the metaverse”, comment Mark Binns, BIGG CEO.

In Q1 and Q2 of 2023, TerraZero generated an aggregate of approximately $1.5M in revenue (unaudited) and 161% growth year over year for the same period, while launching activations for clients including PwC, Fidelity International, Warner Music, leading fashion brands, and others. TerraZero expects to spend the second half of 2023 expanding its business plans to focus on the development of its own highly scalable Intraverse technology ecosystem, which is expected to launch in Q1 2024.

“Whilst TerraZero has become a leader in developing metaverse projects for Fortune 500 brands, we see our highly scalable Intraverse technology platform as the future of immersive and interactive ecommerce, and the coming 3D Internet. Intraverse is slated to launch in Q1 2024. TerraZero's clients' and users' needs for BIGG's complimentary products and services becomes more opportune, as TerraZero's Intraverse already enables credit card payments, while opportunities for KYC, AML, and data analytics from Blockchain Intelligence Group, and Netcoins' fiat to crypto exchange will be integral blockchain and crypto-facing components of Intraverse.com in the coming months. As crypto becomes a more accepted and regulated payment method, these complimentary products and services will be set to benefit even more. The Intraverse technology platform enables businesses and brands to more effectively engage and interact with their customers, creating an entirely new form of e-commerce and e-commerce opportunities,” commented Dan Reitzik, TerraZero CEO.