Jackpot Digital arranges $1.35-million financing

Executive Summary

• Jackpot Digital Inc. intends to conduct a non-brokered private placement to raise gross proceeds of $1.35 million.
• The offering consists of 15 million units priced at $0.09 per unit, with proceeds allocated for general working capital.
• Each unit includes one common share and one common share purchase warrant exercisable at $0.10 per share for five years.

Key Details

• Transaction Type: Non-brokered private placement.
• Gross Proceeds: $1.35 million.
• Price Per Unit: $0.09.
• Quantity Issued: 15 million units.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.10 per common share.
  • Duration: Five years from the closing date.
  • Entitlement: One common share per warrant.
• Use of Proceeds: General working capital.
• Regulatory Status: Subject to TSX Venture Exchange approval.
• Hold Period: Four months and one day in accordance with applicable securities laws.
• Participation: Finders' fees may be payable; certain insiders may participate.

Notable Quotes

• None provided in the text.