The offical news on the PP
ORIGINAL: LottoGopher Holdings Closes Over-Subscribed Private Placement of CAD$3.7 Million
Proceeds Targeted for Customer Acquisition and Expansion
2018-01-22 08:30 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2018) - LottoGopher Holdings Inc. (CSE: LOTO) (OTCQB: LTTGF) (FSE: 2LG) ("LottoGopher" or the "Company") today announces the final closing of the previously announced financing (refer to news release dated December 4th, 2017). The Company closed more than the targeted maximum and just shy of its over-allotment of its non-brokered private placement, raising gross proceeds of CAD$3,707,714 through the issuance of 28,520,878 Units. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire an additional share at a price of $0.25 cents per share for a period of 5 years from closing.
A total of $132,490.47 cash and non-transferable warrants to purchase up to 1,019,156 shares of the Company at $0.25 per warrant (5 year expiry) was paid/issued as finder's fees in connection with this closing.
Proceeds of the Private Placement will be used for working capital and customer acquisition. The Common Shares sold under the Private Placement are subject to a four-month hold period which, under applicable Canadian securities laws, expires on May 19, 2018.