BIGG Digital Assets Inc. Closes Upsized Brokered LIFE Financing for Gross Proceeds of C$8 Million

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VANCOUVER, British Columbia, March 12, 2024 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins, Blockchain Intelligence Group, and TerraZero is pleased to announce the closing of its previously announced commercially reasonable efforts upsized private placement (the “Offering”). Under the Offering, the Company sold 33,333,333 units of the Company (the “Units”) at a price of C$0.24 per Unit for gross proceeds of C$8,000,000. A.G.P. Canada Investments ULC (“A.G.P. Canada”) acted as sole agent and bookrunner under the Offering.

Each Unit consists of one common share of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Share at an exercise price of C$0.30 at any time on or before March 12, 2029. The Units were sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the “LIFE Exemption”). The Company filed a Form 45-106F19 offering document (the “Offering Document”) on March 4, 2024, and an amended and restated Offering Document on March 8, 2024, related to the Offering, which may be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.biggdigitalassets.com. Pursuant to applicable Canadian securities laws, the Shares issued pursuant to the LIFE Exemption are immediately freely tradeable for Canadian purchasers and are not subject to a restricted trade period.

The Company intends to use the net proceeds from the Offering for advertising and marketing activities for each of its business divisions, expansion of the TerraZero development team, completion of Netcoins’ Canadian Investment Regulatory Organization (CIRO) application, expansion of the Netcoins sales team, increase in Netcoins’ float for operational purposes, general working capital requirements for Netcoins, Blockchain Intelligence Group and TerraZero, and for general corporate purposes.

In connection with the Offering, the Company paid A.G.P. Canada a cash commission of C$529,396 and issued to A.G.P. Canada 2,151,166 compensation warrants of the Company (each, a “Broker Warrant”). Each Broker Warrant entitles A.G.P. Canada to purchase one Share at a price of C$0.30 at any time on or before March 12, 2029.