Jackpot Enters into Convertible Debentures

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[{"type":"text","content":"Jackpot Enters into Convertible DebenturesVANCOUVER, BC / ACCESSWIRE / May 15, 2019 / Jackpot Digital Inc. (the \"Company\" or \"Jackpot\") (TSX-V: JP) (TSX-V: JP. WT) (US OTCQB: JPOTF) (Frankfurt & Berlin Exchanges: LVH2). The Company wishes to announce that it proposes to enter into convertible debentures with various parties for an aggregate amount of up to Cdn $2,000,000 (\"Convertible Debentures\") which will bear interest at the rate of 10% per annum, and which will have a term of thirty-six (36) months (the \"Term\"). At any time during the Term, the Holders of the Convertible Debentures may fully convert the Principal Amount into units of the Company at the price of Cdn $0.15 per unit. Each unit shall consist of one common share and one share purchase warrant. Each share purchase warrant shall be exercisable at the price of $0.25 per share for a period of three years. In the event that the Company's shares trade on the TSX-V at $0.50 per share or above for a period of 15 consecutive days, a forced exercise provision will come into effect for the warrants issued in connection with the Convertible Debentures. At any time after the first eighteen (18) months, the Company shall have the right to partially or fully redeem the Convertible Debentures together with the accrued interest without any penalty. There may be finder's fees payable to arm's length parties in respect to this proposed transaction.The funds will be utilized towards the fulfillment of current orders for the Company's Jackpot BlitzTM Electronic Table Game (\"ETG\") platform, regulatory licensing approvals in new jurisdictions from which the Company has received orders, and development of two new products for new and existing customers. President & CEO Jake Kalpakian, states, \"These funds will be very timely to allow the Company to deploy more tables in the field as well as enter new markets. Furthermore, the Company is continuing its pursuit of securing long term conventional financing to meet order demand in a shareholder friendly manner.\"This proposed transaction shall be subject to the approval of the TSX Venture Exchange. The securities that may be issued pursuant to the Convertible Debenture shall be subject to four months and a day hold period in accordance with applicable Canadian securities laws.About Jackpot Digital Inc.Jackpot Digital Inc...

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