Jackpot closes first tranche financing of $350,000
VANCOUVER, BRITISH COLUMBIA. August 25, 2017 – Jackpot Digital Inc. (the “Company” or “Jackpot”) (TSX-V: JP) (TSX-V: JP.WT) (US OTCQB: JPOTF) (Frankfurt & Berlin Exchanges: LVH). Further to the Company’s News Release issued on August 10, 2017, the Company is pleased to announce that it has closed the first tranche of the non-brokered private placement financing with several parties whereby the Company raised gross proceeds of $350,000 and has issued 7,000,000 units of the Company at $0.05 per unit. Each unit consists of one common share of the Company and one non-transferable share purchase warrant to acquire an additional common share of the Company at the price of $0.06 for a period of 5 years until August 21, 2022. In respect to the closing, the Company issued a total of 700,000 common shares at a deemed price of $0.05 per share and 175,000 broker warrants exercisable at $0.06 for two years as finder’s fee to arm’s length parties. All the securities issued in connection with this first tranche closing are subject to a hold period which expires on December 22, 2017.
The funds raised will be utilized towards building the Company’s new Jackpot Blitz™ electronic table game (“ETG”) platform to meet additional table commitments as well as future Jackpot Blitz™ orders and for general working capital.
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.