Jackpot Digital announces no-middleman private placement to build more Blitz electronic tables

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Jackpot Digital Inc. (the “Company” or “Jackpot”) (TSXV: JJ) (TSXV: JJ.WT.A) (TSXV: JJ.WT.B) (TSXV: JJ.WT.C) (OTCQB: JPOTF ) (Frankfurt and Berlin exchanges: LVH3). The Company announces that it is proceeding with a private placement without intermediary to raise up to $ 975,000 (the or this “Funding”) by issuing a maximum of 6,500,000 units of the Company at a price of 0, $ 15 each. Each Unit will consist of one Common Share and one Common Share Purchase Warrant (a “Warrant”). Each warrant will allow its holder to acquire one common share of the Company at a price of $ 0.25 per common share for a period of three years. The warrants will contain an acceleration clause, which may be triggered once the shares of the Company have traded at a price of $ 0.50 per common share for 15 (fifteen) consecutive trading days. Finder’s fees may be payable in respect of the financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”). Funding remains subject to satisfaction of customary closing conditions, including receipt of Exchange approval

In connection with the Financing, an officer of the Company (the “Insider”) has arranged to sell, from the personal holdings of the Insider, up to 3,000,000 ordinary shares of the Company at the price market through the Stock Exchange (the “Swap”). The Insider intends to use 100% of the proceeds of the Swap to participate in the Funding.

Funds from this funding will be used to purchase equipment for the production of the Company’s Jackpot Blitz â„¢. electronic boards (“ETG”), regulatory license fees for new jurisdictions, a market awareness campaign and for general working capital.

Jackpot President and CEO Jake Kalpakian says, “Our sales pipeline is strong and we anticipate an increase in the volume of new orders early in 2022. In addition to other tabletop components, part of the product funding will go towards computer boards for up to 50 new tables, to increase inventory and avoid possible delays due to recent supply chain disruptions. “

The securities that may be issued under this Financing will have a holding period of four months and one day in accordance with applicable securities laws.

The Company also wishes to announce its intention to engage Brian Gusko Advisory Services Inc. to provide market knowledge for a period of four months (the “Agreement”), subject to Exchange approval. Brian Gusko Advisory Services Inc. is an arm’s length service provider led by Brian Gusko, MBA with 15 years of corporate finance and public company experience and strong brokerage relationships in Canada. and European institutional investors who focus on marketing communications in Canada and Germany. Services include coordinating strategic introductions to investment brokers and bankers and developing a social media focused marketing campaign. The consideration for the services to be provided during the four-month period is $ 190,000, in addition to € 125,000 for a European investor awareness campaign and a non-deal roadshow. Mr. Gusko currently holds 168,000 shares and 200,000 common share purchase warrants of the Company.

About Jackpot Digital Inc.

Jackpot Digital Inc. is a leading manufacturer of electronic table games for the cruise ship industry and the regulated casino industry. The Company specializes in multiplayer gaming products, including poker and casino games, which are complemented by a robust suite of backend tools that allow operators to effectively monitor and optimize their gaming operations.

For more information about 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
Digital Jackpot inc.

“Jake H. Kalpakian”
_____________________________
Jake H. Kalpakian
President and CEO

Trading in the Company’s securities should be considered speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press 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 press release.

Certain statements contained in this document are “forward-looking”. Forward-looking statements may include, among other things, statements regarding future plans, proposed financings, costs, objectives, economic or technical performance, or the assumptions underlying any of the foregoing. In this press release, words such as “could”, “could”, “could”, “will”, “probably”, “will”, “feel”, “seek”, “project”, “predict”, “”, “Should”, “could”, “objective”, “believe”, “expect”, “propose”, “anticipate”, “intend”, “plan”, “estimate” and Similar words are used to identify future forward-looking statements. Forward-looking statements are subject to various risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Management believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, projections and estimates, and there can be no assurance that such assumptions, projections or estimates are accurate. Readers, shareholders and investors are therefore cautioned not to rely on declaratio ns forward-looking, because the plans, assumptions, intentions or expectations on which they are based may not occur.

THE SOURCE: Digital Jackpot inc.

See the source version on accesswire.com:
https://www.accesswire.com/678914/Jackpot-Digital-Announces-Non-Brokered-Private-Placement-to-Build-More-BlitzTM-Electronic-Tables


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