News Release
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
BIG BLOCKCHAIN INTELLIGENCE GROUP INC. ANNOUNCES BOUGHT DEAL FINANCING FOR GROSS PROCEEDS OF $10 MILLION
Vancouver, British Columbia, December 6, 2017 / BIG Blockchain Intelligence Group Inc. [CSE: BIGG] (the “Company” or “BIG”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 13,340,000 common shares of the Company (the “Shares”) at a price of $0.75 per Share (the “Offering Price”), for aggregate gross proceeds of approximately $10.0 million (the “Offering”). The Company has also granted the Underwriters an option, exercisable up to two business days prior to the Closing Date, to arrange for the purchase of up to an additional 2,001,000 Shares at the Offering Price for total gross proceeds of up to $11.5 million.
The net proceeds of the Offering are expected to be used to further build out the Company’s development and sales team, acquire additional hardware adding to existing infrastructure and providing additional capacity to deliver big data and search analytics, and for general working capital purposes.
The Offering will take place by way of a private placement to accredited investors in such provinces of Canada as the Underwriters may designate, and otherwise in those jurisdictions where the Offering can lawfully be made on a private placement basis. All Shares issued under the Offering will be subject to a four month and one day hold period from the date of issue in accordance with applicable securities laws in Canada, and potentially additional restrictions under the laws of other jurisdictions in which the Offering may be made.
The Offering is expected to close on or about December 21, 2017 (the “Closing Date”). Closing of the Offering is subject to certain conditions typical for a transaction of this nature and the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange (the “Exchange”).
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.
“We at BIG Blockchain Intelligence Group Inc. are very pleased that we will be working closely with GMP Securities and the syndicate. This vote of confidence in our crypto expertise is the culmination of many years of forward thinking and continuous development. We will now be able to expedite the commercialization on a global scale of our two lead products. This strategic investment will ensure our position as a RegTech leader and help to establish QLUETM and Bitrank® as the worldwide standard.” 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: 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
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.
