(MENAFN - Newsfile Corp) BIG Blockchain Intelligence Group Announces Completion of Netcoins Acquisition
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2019) - BIG Blockchain Intelligence Group Inc. (CSE: BIGG) (WKN: A2JSKG) (OTC Pink: BBKCF) ("BIG" or the "Company") is pleased to announce that, further to its press release issued on May 27, 2019, it has completed its previously announced acquisition of all of the issued and outstanding shares of Netcoins Inc., NTC Holdings Corp. and NTC Holdings USA Corp. (collectively, "Netcoins") (the "Transaction").
Netcoins is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins completed over CAD$58 million in cryptocurrency transactions in 2018. It currently enables crypto transactions via over 171,000 retail locations globally, a self-serve crypto purchase portal and an institutional over-the-counter (OTC) trading desk. In addition, upon launch of its Netcoins Custody software, it is poised to deliver institutional-level crypto custody to the Canadian marketplace through an existing agreement with BitGo Trust Company, the world's largest processor of on-chain bitcoin transactions.
The total purchase price of the Transaction was approximately $3 million, paid through the issuance of 37,500,000 common shares of BIG (the "Payment Shares") at a deemed price of $0.08 per Payment Share.
Shone Anstey, Executive Chairman and President of the Company, comments, "BIG is well positioned to strengthen and expand its status within the cryptocurrency sector, building upon the already existing natural synergies between the Company and Netcoins to drive growth across each of our business segments.We strongly believe this Transaction will provide value creation for shareholders, aligning BIG as a pure cryptocurrency company with the added advantage of a 'compliance first' strategy."
BIG is now positioned to actively participate in and deliver cryptocurrency brokerage services to an existing, growing client base that will benefit from the compliance and analytics services the Company provides.
Executive Team Transition
At the closing of the Transaction, Mark Binns stepped up to lead the Company as Chief Executive Officer.Mr. Binns has agreed to join the Company's Board of Directors, subject to formal acceptance by the Board.
"This Transaction is a significant one," stated Mr. Binns."Our combined forces will allow us to capitalize on the important inflection point occurring within the cryptocurrency sector - where mainstream interest and involvement in digital assets is colliding with the ever increasing demand for heightened regulatory oversight and effective risk management."
The Transaction was completed pursuant to available exemptions under applicable legislation.
On behalf of the Board:
The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services.
About BIG Blockchain Intelligence Group Inc.
BIG Blockchain Intelligence Group Inc. (BIG) brings security and accountability to the new era of cryptocurrency. BIG has developed from the ground up a Blockchain-agnostic search and analytics engine, QLUEMA, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually trace, track and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified , offers a "risk score" for cryptocurrency, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements. Our Forensic Services Division brings our team of investigative experts into action for cryptocurrency investigations that require in-depth expertise and experience, either in conjunction with or supplemental to our user-friendly search, risk-scoring and data analytics tools. Based on industry demand, we created our Cryptocurrency Training Academy ( www.CryptolnvestigatorTraining.com ) to help Law Enforcement, the Financial Sector and Regulators learn how to bring security and accountability to cryptocurrency, our Cryptocurrency Investigator Certification Course is a one-stop solution to understanding the world of cryptocurrency, how to reduce associated risk, and investigate cryptocurrency crime.
About BitRank Verified
BIG developed BitRank Verifiedto be the industry gold standard in ranking and verifying cryptocurrency transactions. BitRank Verifiedoffers the financial world a simple risk score, enabling consumer-facing bank tellers, exchanges, eCommerce sites and retailers to know whether a proposed transaction is safe to accept, questionable, or should be denied. BitRank Verifiedand its API are custom tailored to provide the RegTech sector with a reliable tool for meeting their regulatory requirements while mitigating the risk of money laundering or other criminal activities.
QLUETM (Qualitative Law Enforcement Unified Edge) enables Law Enforcement, RegTech, Regulators and Government Agencies to literally "follow the virtual money'. QLUETM incorporates advanced techniques and unique search algorithms to detect suspicious activity within cryptocurrency transactions (Bitcoin, Ethereum), enabling investigators to quickly and visually trace, track and monitor transactions in their fight against terrorist financing, human trafficking, drug trafficking, weapons trafficking, child pornography, corruption, bribery, money laundering, and other cyber crimes.
About the Crypto Fusion Center
BIG created the Crypto Fusion Center (CFC) to serve as a community resource dedicated to fighting the criminal use of cryptocurrencies. The CFC's mission is to maintain and promote the legitimacy of cryptocurrencies while protecting the market as a whole by identifying and isolating criminal events as they occur. The CFC enables entities in all sectors to notify major participating exchanges, financial institutions, and law enforcement agencies in a timely manner when cryptocurrency thefts occur. The CFC is a direct result of BIG's greater mission of bringing cryptocurrencies mainstream through social responsibility. Entities interested in learning more about the Crypto Fusion Center or considering participating in the community can visit the CFC here:https://cryptofusioncenter.com/
About Our Expert Training
We offer custom on-site and 24/7 online training, enabling Law Enforcement, the Financial Sector and Regulators to understand cryptocurrency risk and successfully investigate suspicious activity. Our in-person, on-site training solutions are designed to fit our clients' scheduling, location and learning needs. Through our online Cryptocurrency Training Academy ( www.CryptoInvestigatorTraining.com ), clients can take our Cryptocurrency Investigator Certification Course to earn their Certified Cryptocurrency Investigator credential from BIG to validate their new knowledge.
About Our Forensic Services Division
Our Forensic Services Division provides Law Enforcement, Financial institutions and Regulators with expert support to help trace, track and monitor illicit activity involving cryptocurrencies. Our services range from quick and simple due diligence case reviews, to providing in-depth forensic support for ongoing investigations, and providing expert witness testimony from unbiased third-party investigators.
BIG Investor Relations
For more information and to register to BIG's mailing list, please visit our website athttps://www.blockchaingroup.io/ . Follow @blocksearch on Twitter. Or visit SEDAR atwww.sedar.com .
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 BIG. 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 BIG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIG's expectations include, consumer sentiment towards BIG'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, BIG 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, BIG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/46703