KELOWNA, BRITISH COLUMBIA--(Marketwired - Nov. 24, 2017) -Big Wind Capital Inc., ("Big Wind" or the "Company") (CSE:BWC)(CSE:BWC.CN)(CNSX:BWC)(OTC PINK:BGGWF) and Hill Top Security Inc ("Hill Top") are pleased to announce that, further to the terms of the previously announced letter of intent agreement, through which Big Wind will acquire various interests in Hill Top and its assets (the "Transaction"), Big Wind has closed the 2nd tranche of its non-brokered private placement of $0.15 common shares and advanced a total of USD$600,000 to Hill Top.
Dev Randhawa, CEO of Big Wind, commented, "In the recent months,Hill Top has continued to enhance its patented, military-grade, cybersecurity platform, as well as its exciting cryptocurrency product, and this USD$600,000 payment is an important step towards completing the existing binding LOI of July 4, 2017. With cybercrime now prolific across the world, cybersecurity has never been more important and with Hill Top's unique products, and highly-skilled team, we are well positioned to grow shareholder wealth in the rapidly-growing sector."
Hill Top Security Highlights and Recent News
Unique cybersecurity platform: Hill Top has a patented, military-grade cybersecurity platform - originally developed for and currently used by the US government and big business - now being made available to the small and medium sized business (SMB) sector.
Strategic Partnership: Hill Top recently partnered with GuardSight - a cybersecurity specialist with a strong customer base of Fortune 1000 companies, Cryptocurrency product development:
Hill Top is at an advanced stage of development in developing its first crypto currency product for the mining and metals industry. The product, called MineCoin, will enable Hill Top to expand its current protection of company networks and communications to include the protection of company transactions.
Team with military background: The platform has been developed by a team of security experts with substantial military and commercial experience, including the US Army, Marine Corps and Wall Street.
The Company has closed the second tranche of its previously announced non-brokered private placement of common shares of Big Wind, pursuant to which, Big Wind issued an additional 3,290,247 common shares for gross proceeds of CAD$493,357. These common shares have a hold period that expires 8 months and a day after the date of distribution.
Completion of the Transaction is subject to a number of other conditions, including but not limited to acceptance by the Canadian Securities Exchange and entering into a definitive agreement. There can be no assurance that the Transaction will be completed as proposed or at all. Further details regarding the proposed Transaction will be provided in a news release, if and when the parties enter into a definitive agreement.
Both parties are completing the definitive agreement and intend to finalize and enter into the definitive agreement once all financial statements, MD&A, and pro forma have been completed.