Trapeze Capital Corp.

May 03, 2016 21:24 ET

Trapeze Capital Corp., Trapeze Asset Management Inc. and Randall Abramson Acquire Convertible Debentures of Jackpot Digital Inc.

TORONTO, ONTARIO--(Marketwired - May 3, 2016) - Trapeze Capital Corp. ("TCC"), Trapeze Asset Management Inc. ("TAMI") and Randall Abramson (together, the "Offerors") have acquired beneficial ownership or control or direction over an aggregate of $1,770,000 of convertible debentures (the "Debentures") issued by Jackpot Digital Inc. (the "Issuer"), convertible into common shares of the Issuer ("Common Shares") at a price of $0.05. Assuming all of the Debentures were exercised by the Offerors, the Offerors would beneficially own or exercise control or direction over 35,400,000 Common Shares, representing approximately 18.5% of the then issued and outstanding Common Shares (calculated on a partially diluted basis, i.e., assuming no convertible securities of the Issuer were exercised by other holders).

The purchases were made by private placement from treasury.

The Offerors have acquired the securities for investment purposes. The Offerors reserve the right to acquire further securities the Issuer depending on market conditions and other relevant factors.

The Issuer relied on the "accredited investor" exemption in National Instrument 45-106 in issuing the Debentures to the Offerors.

An Early Warning Report in respect of the acquisition has been filed on SEDAR and can be viewed at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Randall Abramson
    Trapeze Asset Management Inc.
    22 St. Clair Avenue East, 18th Floor
    Toronto, ON M4T 2S3
    416-861-0774