Business
Jackpot Digital Announces Rights Offering
VANCOUVER, BC / ACCESSWIRE / August 15, 2019 / Jackpot Digital Inc. (the " Company " or " ...
About this update from Jackpot Digital Inc.
[{"type":"text","content":"Jackpot Digital Announces Rights OfferingVANCOUVER, BC / ACCESSWIRE / August 15, 2019 / Jackpot Digital Inc. (the \"Company\" or \"Jackpot\") (TSXV:JP)(TSXV:JP.WT)(OTCQB:JPOTF)(Frankfurt:LVH2)(Berlin:LVH2) is pleased to announce that it will be making a rights offering (the \"Rights Offering\") in which holders of record of the Company's common shares, as of the record date of August 23, 2019 (the \"Record Date\"), will receive rights to subscribe for units of the Company.Description of Rights OfferingEach registered shareholder of the Company resident in Canada as of the close of business on the Record Date will receive one right (a \"Right\") for every one Jackpot common share held. One Right will permit the shareholder to purchase one unit (a \"Unit\") at a price of $0.03 per Unit (the \"Basic Subscription Privilege\"). The Rights will expire at 4:30 p.m. (Toronto, ON time) on September 25, 2019 (the \"Expiry Date\"). Holders of Rights who fully exercise their Rights under the Basic Subscription Privilege will also be entitled to subscribe, on a pro rata basis, for additional Units, if available, that were not subscribed for by other holders of Rights (the \"Additional Subscription Privilege\"), subject to certain limitations as set out in the Company's Rights offering circular (the \"Rights Offering Circular\").Each Unit will consist of one common share and one transferable share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.10 exercisable for five years from the closing date of the Rights Offering. The Rights will be transferable and listed for trading on the TSX Venture Exchange (the \"Exchange\"). The Warrants, when issued, are also expected to be listed on the Exchange, subject to Jackpot satisfying the distribution requirements of the Exchange that at least 75 public shareholders hold at least one board lot each of the Warrants.The Rights will be listed and posted for trading on the Exchange under the symbol \"JP.RT\" on a \"when issued\" basis commencing on August 22, 2019 and will expire at 4:30 p.m. (Toronto time) on the Expiry Date, after which time unexercised Rights will be void and of no value. The Cusip # for the Rights is 466391158.The Rights Offering is not subject to any minimum subscription level. If the Rights Offering is full...