VANCOUVER, British Columbia, June 09, 2022 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (blockchaingroup.io) (“BIGG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce a strategic investment of CAD$2.0 million in Luxxfolio Holdings Inc. (“Luxxfolio”) for 12.5 million units priced at $0.16 per unit. Each unit comprises one common share and one common share purchase warrant exercisable for 24 months at a price of $0.21. Through this investment BIGG now owns ~15% of Luxxfolio and ~20% on a fully diluted basis. In connection with the investment into Luxxfolio, BIGG is entitled to appoint one member to Luxxfolio’s board of directors at its discretion.
BIGG believes green crypto mining is essential to the future of digital assets. Luxxfolio is a sophisticated Canadian miner, with operations in New Mexico and tremendous growth potential. As BIGG continues to build a world class digital asset company, we believe Luxxfolio is a perfect fit.
Luxxfolio was seeking a strategic partner to help fund its next phase of growth - which includes both the traditional Bitcoin mining vertical and, more recently, an entrance into a decentralized data storage vertical. Decentralized storage supports the growth in cloud computing and includes high growth areas such as scientific research, Web 3.0, AI (artificial intelligence), 3-D modeling, and the Metaverse.
Ken MacLean, Luxxfolio’s CEO added, “We are thrilled to welcome BIGG as a major shareholder in Luxxfolio. BIGG will be an excellent partner as we navigate the opportunities in the current volatile market. Mr. Binns and his team support our vision, and with their investment, we can continue to be opportunistic on the execution of our 2022 plan.”
Mark Binns, BIGG CEO, remarked, “BIGG is first and foremost a digital assets company - and complimentary to our holdings in crypto forensics, crypto trading and Metaverse/NFT is crypto mining - a mainstay and essential component to the digital asset economy. We believe Luxxfolio can become a global leader in sustainable crypto mining, and has established an excellent beach head operation in New Mexico with significant expansion potential. The team at Luxxfolio, led by Ken MacLean, have built deep relationships in the crypto mining community and have grown the business through multiple crypto pricing cycles.”
Also, pursuant to the Company’s stock option plan and subject to regulatory approval, it has granted stock options to its directors, officers, employees and consultants to purchase an aggregate 1,905,000 common shares in the capital of the Company at an exercise price of $0.50 per common share for a period of five years. The stock options will be subject to vesting requirements over a period of up to 24 months. The securities represented by this grant will be subject to a four-month hold period.
On behalf of the Board
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 has three portfolio companies: Netcoins (netcoins.ca), Blockchain Intelligence Group (blockchaingroup.io) and TerraZero (terrazero.com).
Blockchain Intelligence Group builds technology to power compliance and intelligence for the crypto future. Banks and crypto companies depend on our technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. Blockchain Intelligence Group is trusted globally by banks, crypto companies, law enforcement, fintechs, regtechs and governments.
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 facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
TerraZero is a vertically integrated Metaverse development group and leading Web 3.0 technology company specializing in the Metaverse space. The Company’s Metaverse agnostic vision is to develop, acquire, and finance the Metaverse’s most promising companies, entrepreneurs, and developers. TerraZero also owns digital real estate and provides offices and services to those interested in the Metaverse. BIGG owns ~30% of TerraZero.
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.