Post by
bveilleu on Nov 05, 2020 2:59pm
JACKPOT DIGITAL ANNOUNCES RIGHTS OFFERING
Description of Rights Offering... one more time! bveilleu
Each 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 $0.05 per Unit (the "Basic Subscription Privilege"). The Rights will expire at 4:30 p.m. (Toronto, ON time) on Thursday, November 19, 2020 (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.