- BIGG Digital Assets (BIGG) has made a strategic investment of C$2.0 million in Luxxfolio Holdings for 12.5 million units priced at $0.16 per unit
- Each unit consists of 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 per cent of Luxxfolio and ~20 per cent on a fully diluted basis
- This investment now makes BIGG to own ~15 per cent of Luxxfolio and ~20 per cent on a fully diluted basis
- BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment
- BIGG Stock (CSE:BIGG) was down 5.32 per cent, trading at $0.445 at 11:07 ET
BIGG Digital Assets (BIGG) has executed a strategic investment of C$2.0 million in Luxxfolio Holdings for 12.5 million units priced at $0.16 per unit.
Each unit consists of one common share and one common share purchase warrant exercisable for 24 months at a price of $0.21.
This investment now makes BIGG to own ~15 per cent of Luxxfolio and ~20 per cent 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.
Luxxfolio is a Canadian miner, with operations in New Mexico and tremendous growth potential.
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 modelling, and the Metaverse.
“We are thrilled to welcome BIGG as a major shareholder in Luxxfolio,” Ken MacLean, Luxxfolio’s CEO added,
BIGG will be an excellent partner as we navigate the opportunities in the current volatile market,” he added.
“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,” noted Mark Binns, BIGG CEO.
“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,” he added.
Furthermore, the company 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.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment.
