On June 27, 2023, Jackpot Digital Inc. closed the transaction. The company announced that it has issued CAD 29,250 in the third and final tranche for aggregate gross proceeds of CAD 442,401.75. The company paid finder?s fee of CAD 375.00 and issued to an arm?s length party 5,000 nontransferable share purchase warrants exercisable at CAD 0.10 per share until May 17, 2025. The Debentures will bear interest of 10% per annum, and are convertible into common shares of the Company at the price of CAD 0.075 per share until May 17, 2028 and May 25, 2028, respectively. The Company also issued an aggregate of 5,898,690 share purchase warrants exercisable at CAD 0.10 per share for a period of five years. The securities issued are subject to a statutory hold period, which will expire on September 18, 2023 for the first tranche, and on September 26, 2023 for the second tranche. The final tranche of the private placement is expected to close on or before June 25, 2023.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from five placees.