09:05 AM EST, 03/08/2024 (MT Newswires) -- BIGG Digital Assets Inc. ( BBKCF ) said Friday that it has upsized its commercially reasonable efforts private placement to $8 million from $5 million.

Under the revised offering, up to a maximum of 33.3 million units of the company may be sold at C$0.24 per unit. Each unit will be comprised of one common share in the authorized share structure of the company plus one share purchase warrant. Each warrant will allow the holder to buy one share at an exercise price of C$0.30 for 60 months following the completion of the offering.

The company plans to use the net proceeds for advertising and marketing activities for each of its business divisions, expansion of the TerraZero development team, Netcoins' Canadian Investment Regulatory Organization application, expansion of the Netcoins sales team, increase in Netcoins' float for operational purposes, general working capital requirements for Netcoins, Blockchain Intelligence Group and TerraZero, and general corporate purposes.

The offering is expected to close by March 12.