Jackpot Digital to issue 1.55 million shares for debt

Executive Summary

• Jackpot Digital Inc. entered into debt settlement agreements with debentureholders, converting $155,753.30 of accrued interest into equity.
• The company will issue 1,557,534 common shares at C$0.10 per share to settle the obligation.
• Completion of the transaction is subject to approval by the TSX Venture Exchange and includes a securities hold period.

Key Details

• Settlement Amount: Interest owed in aggregate $155,753.30.
• Equity Issuance: 1,557,534 common shares to be issued at C$0.10 per share.
• Hold Period: All shares issued will be subject to a hold period as required by securities laws.
• Regulatory Approval: Transaction pending approval from the TSX Venture Exchange.

Notable Quotes

(No direct quotes provided in the release.)