Business
Jackpot Digital Signs Lines of Credit to Manufacture More Electronic Table Games
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - Jackpot Digital Inc. (TSXV: JJ)...
About this update from Jackpot Digital Inc.
[{"type":"text","content":"Jackpot Digital Signs Lines of Credit to Manufacture More Electronic Table GamesVancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - Jackpot Digital Inc. (TSXV: JJ) (TSXV: JJ.WT.C) (OTCQB: JPOTF) (Frankfurt Stock Exchange: LVH3) (the \"Company\" or \"Jackpot\"), announces that it has entered into secured non-revolving lines of credit agreements with two separate lenders in the aggregate principal amount of up to US$4,000,000, subject to certain terms and conditions (the \"LOC Agreements\"). Under the LOC Agreements, the Company can draw advances from the LOC Agreements until January 1, 2027. All advances must be paid by December 31, 2028. All funds from the drawdowns will be used solely for the manufacturing and distribution of Jackpot Blitz® electronic table games (\"ETGs\").In the event of default on the principal or interest payments under the LOC Agreements, the lenders may have the option to convert all or a portion of the outstanding principal and accrued interest in the capital of the Company, at a discounted market price determined on the date of the news release announcing the conversion. President & CEO, Mr. Jake Kalpakian states, \"This is a very significant milestone for the Company. The credit facility will enable us to increase our manufacturing capacity to expeditiously meet growing customer demand, and will also allow us to produce and distribute our ETGs in significantly much larger volumes than before.\"Any securities that may be issued in connection with the LOC Agreements will be subject to resale and transfer restrictions under applicable securities laws and regulations in Canada and the United States. The LOC Agreements are subject to the approval of the TSX Venture Exchange.About Jackpot Digital Inc. A positive disruptor in the casino business, Jackpot Digital Inc. is a leading provider of electronic poker table games, offering innovative gaming solutions to casinos worldwide. The Company specializes in the development and deployment of dealerless multiplayer poker ETGs, providing operators with efficient, cost-effective, and revenue-generating alternatives to traditional live-dealer table games. Jackpot Digital is committed to enhancing the player experience and helping operators optimize their gaming offerings.For more information on the Company, please contact Jake H. Kalpakian, Pres...