BIG Blockchain Intelligence Group Inc.
CSE : BIGG
CSE : BIGG.CN
CNSX : BIGG
December 06, 2017 13:38 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 6, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
BIG Blockchain Intelligence Group Inc. (CSE:BIGG)(CSE:BIGG.CN)(CNSX:BIGG) (the "Company" or "BIG") is pleased to announce that it has amended the terms of its previously announced bought deal with an increase to 22,670,000 common shares (the "Shares") at a price of $0.75 per Share (the "Offering Price") for aggregate gross proceeds to BIG of $17,002,500 (the "Offering"). The Offering will be underwritten by a syndicate of underwriters led by GMP Securities L.P. and including Canaccord Genuity Corp., Cormark Securities Inc., Haywood Securities Inc., and PI Financial Corp.
The Underwriters will also have the option, exercisable up to two business days prior to the closing date of the Offering, to arrange for the purchase of up to an additional 3,400,500 common shares at the Offering Price for additional gross proceeds of up to $2,550,375. In the event that the option is exercised in its entirety, the aggregate gross proceeds would increase to $19,552,875.
The terms of the financing and use of proceeds remain as previously disclosed in all other respects.
"We are pleased that as a result of strong investor demand, we were able to secure a financing of $17.0 million plus the over-allotment option to fund the growth of the Company, which is in-line with our original financing objectives. The initial $10.0 million size provided a good starting point to solicit interest given the lack of trading history for BIG." stated Lance Morginn, CEO of BIG Blockchain Intelligence Group Inc.
About BIG Blockchain Intelligence Group Inc.
BIG is headquartered in Vancouver, BC, Canada and is an information technology company. BIG has developed from the ground up a Blockchain agnostic search and analytics engine allowing RegTech, Law Enforcement & Government Agencies to trace, track and monitor cryptocurrency transactions at a forensic level. BIG presently has two products: QLUE™ and BitRank®. QLUE™ is a Software-as-a-Service (SaaS) platform for law enforcement and Anti-Money Laundering (AML) departments to aid in the fight against financial crimes involving Bitcoin. It incorporates various techniques and advanced search algorithms to detect suspicious activity within Bitcoin transactions as well as the use of "dark web" tools such as TOR and other methods commonly used by criminals to cover illegal activities. BitRank® offers a wallet risk scoring system that uses search and analytics to determine the safety levels of a Bitcoin transaction by ranking the wallets involved in transactions on the blockchain. BitRank® is available for individuals through the website BitRankVerified.com and is also provided via API (Application Program Interface). Additional information is available on BIG's website at www.blockchaingroup.io.
On Behalf Of BIG Blockchain Intelligence Group Inc.
Lance Morginn, CEO and Co-Founder
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information"). These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
These securities have not and will not be registered under United States federal or state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon. This news release does not constitute an offer of securities for sale in the United States.
CSE has not reviewed this news release and do not accept responsibility for the adequacy or accuracy of the content of this news release.