pcNewsWire – Jackpot Digital Inc. (TSX-V: JP, JP.WT; OTCQB: JPOTF; FSE/BERLIN: LVH) intents to close a non-brokered private placement financing with several parties of up to 15,000,000 units at $0.05 per unit for gross proceeds of up to $750,000.
President and CEO Jake Kalpakian intends to subscribed for a minimum of 2,000,000 units.
Proceeds will be utilized towards building the company’s new Jackpot Blitz™ electronic table game (ETG) platform to meet existing table commitments as well as future Jackpot Blitz™ orders, expediting regulatory licensing in new jurisdictions, and for general working capital.
News Release
Jackpot proposes a non-brokered private placement financing
VANCOUVER, BRITISH COLUMBIA. June 30, 2017 – Jackpot Digital Inc. (the “Company” or “Jackpot”) (TSX-V: JP) (TSX-V: JP.WT) (US OTCQB: JPOTF) (Frankfurt & Berlin Exchanges: LVH). Jackpot announces that it proposes to enter into a non-brokered private placement financing with several parties whereby Jackpot may raise gross proceeds of up to $750,000 by issuing up to 15,000,000 units of the Company at $0.05 per unit (the “Proposed Financing”). Each Jackpot unit will consist of one common share of the Company and one transferable share purchase warrant to acquire an additional common share of the Company at the price of $0.05 until January 20, 2022 (the “Private Placement Warrants”). The Private Placement Warrants will have the same terms and conditions as the warrants that were issued by the Company pursuant to the rights offering which completed on January 20, 2017 (the “Rights Offering Warrants”). Subject to the approval of the TSX Venture Exchange (the “Exchange”), the Company intends to apply for listing of the Private Placement Warrants on the Exchange, which listing will be on the same terms and conditions as the Rights Offering Warrants and will not become effective until after the statutory hold period in respect of the Private Placement Warrants has expired.
President and CEO Jake Kalpakian intends to participate in this Proposed Financing by subscribing for a minimum of 2,000,000 units of the Company. The funds will be utilized towards building the Company’s new Jackpot Blitz™ electronic table game (“ETG”) platform to meet existing table commitments as well as future Jackpot Blitz™ orders, expediting regulatory licensing in new jurisdictions, and for general working capital.
Mr. Jake Kalpakian, President and CEO, states “We just came off the Canadian Gaming Summit where we debuted our new Jackpot Blitz™ ETG. Based on the positive reaction Jackpot Blitz™ generated, with this financing, we are taking the steps to ensure we meet current and future market demands. We are very excited with what the future holds for Jackpot Digital Inc.”.
In respect to this Proposed Financing, there may be finder’s fees payable to arm’s length parties. The securities that may be issued in connection with this Proposed Financing will be subject to a hold period in accordance with applicable securities laws. This Proposed Financing is subject to the approval of the Exchange.
About Jackpot Digital Inc.
Jackpot Digital Inc. is a leading electronic table games manufacturer and mobile gaming provider for the cruise ship industry and regulated casino industry. The Company specializes in multiplayer gaming products, including poker and casino games, which are complimented by a robust suite of backend tools for operators to efficiently control and optimize their gaming business.
For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681-0204 ext 6105, or visit the Company’s website at www.jackpotdigital.com.
On behalf of the Board of
Jackpot Digital Inc.
“Jake H. Kalpakian”
_____________________________
Jake H. Kalpakian
President & CEO
Trading in the securities of the Company should be considered speculative.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
