BIG Blockchain Intelligence Group Inc. Announces Completion of Bought Deal Offering of Common Shares With Exercise of Over-Allotment Option
VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- BIG Blockchain Intelligence Group Inc. (CSE:BIGG) (the "Company" or "BIG") is pleased to announce that they have closed their previously announced bought deal offering (the "Offering") of common shares of the Company ("Shares") with 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. (collectively, the "Underwriters").
An aggregate of 26,070,500 Shares were issued by the Company at a price of C$0.75 per Share, including 3,400,500 Shares issued on the full exercise of the Underwriters' over-allotment option, for aggregate gross proceeds of C$19,552,875.
In connection with the Offering, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering (3% for President List orders). In addition, the Underwriters received broker warrants entitling them to purchase Shares equal to 6% of the number of Shares sold under the Offering (3% for President's List orders).
The use of proceeds from the Offering remains as previously disclosed.
The Shares issued in the Offering will be subject to a statutory four month and a day hold period that will expire on April 22, 2018.
This news release does not constitute an offer to sell the Shares in the United States or to US persons. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States or to a US person unless an exemption from registration is available.
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: QLUETM and BitRank®. QLUETM 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 in this release are forward-looking statements. 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. Forward-looking statements contained in this news release include, but are not limited to, statements regarding the use of proceeds of the Offering. 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 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 the Company.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from the Company's expectations include consumer sentiment towards the Company's products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The Canadian Securities Exchange has not reviewed this news release and do not accept responsibility for the adequacy or accuracy of the content of this news release.
Lance Morginn
[email protected]
1-778-819-8702
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