Business
Jackpot Digital and Yo Eleven Announce Closing of Arrangement
VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / Jackpot Digital Inc. (the "Company" or "Jack...
About this update from Jackpot Digital Inc.
[{"type":"text","content":"Jackpot Digital and Yo Eleven Announce Closing of ArrangementVANCOUVER, BC / ACCESSWIRE / November 4, 2021 / Jackpot Digital Inc. (the \"Company\" or \"Jackpot\") (TSXV:JJ)(TSXV:JJ.WT.A)(TSXV:JJ.WT.B)(TSXV:JJ.WT.C)(OTCQB:JPOTF)(Frankfurt:LVH3)(Berlin:LVH3) and Yo Eleven Gaming Inc. (\"Yo Eleven\") are pleased to announce that they have completed the previously announced transaction pursuant to which the Company's iGaming assets have been spun out to Yo Eleven by way of a Plan of Arrangement (the \"Spinout\") under the Business Corporations Act of British Columbia.Jake Kalpakian, CEO for Jackpot and Yo Eleven, stated, \"With the completion of the Spinout, we have simplified and strengthened the Jackpot brand and are actively positioning both organizations for strategic growth in their respective arenas. We thank our shareholders for their overwhelming support and look forward to what the future holds.\"Under the terms of the Spinout, Yo Eleven receives Jackpot's iGaming assets and in consideration Jackpot shareholders will receive one (1) Yo Eleven common share for every five (5) Jackpot common shares held as of the record date November 1, 2021. No further action is required by Jackpot shareholders of record in order to receive the Yo Eleven consideration shares.If you wish more information regarding the Spinout and Yo Eleven, please refer to the Company's Management Information Circular dated August 13, 2021 which is available under the Company's profile on SEDAR at www.sedar.com and also on the Company's website at www.jackpotdigital.com.About Jackpot Digital Inc.Jackpot Digital Inc. is a leading electronic table games manufacturer for the cruise ship industry and regulated land-based 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.About Yo Eleven Gaming Inc.Yo Eleven Gaming Inc. is a sports and entertainment company developing an omni channel technology platform for the B2B and B2C markets that are seeking online casinos, sports book betting and unique specialized type of games. Yo Eleven's mission is to bring people together in a fun and engaging environment while supporting gaming operators with a streamlined platform to manage their busin...