Market Overview

Jackpot Enters into an Amendment Debt Settlement Agreement with Everi

Share:

VANCOUVER, BC / ACCESSWIRE / November 19,2018 / Jackpot Digital Inc. (the "Company" or "Jackpot") (TSX-V: JP)(TSX-V: JP. WT) (OTCQB:JPOTF) (Frankfurt & Berlin Exchanges: LVH1).The Company is pleased to announce that it hasentered into an amendment to the previously executed debt settlement agreement (the"New Debt Settlement Agreement") with Everi Games Inc. ("Everi").

Pursuantto the New Debt Settlement Agreement, the Company's current outstanding debt toEveri in the amount of US $3,805,355.29 shall be reduced to U$1,355,355.29which shall bear simple interest at the rate of 8% per annum and which shall bepayable eighteen months after the effective date of the New Debt SettlementAgreement.

Inconsideration to eliminate and reduce the debt by a total of US$2,450,000 theCompany shall grant to Everi 1,000,000 common share warrants in the capital ofthe Company exercisable at the price of $0.35 per common share for a period oftwo years, and the Company shall issue to Everi 2,276,225 common shares in thecapital of the Company at a deemed price of $0.20 per share.The issuance of the Company's common sharesand warrants shall be subject to the approval of the TSX Venture Exchange.

Presidentand CEO Mr. Jake Kalpakian states "This is an extremely positive development asthe Company's debt is being significantly reduced, and as a result, it willpositively reflect in the Company's financial statements.This transaction alone has eliminated asubstantial portion of our long-term debt".

AboutJackpot Digital Inc.

Jackpot Digital Inc. is aleading electronic table games manufacturer and mobile gaming provider for thecruise ship industry and regulated casino industry. The Company specializes inmultiplayer gaming products, including poker and casino games, which arecomplimented by a robust suite of backend tools for operators to efficientlycontrol and optimize their gaming business.

For more information on theCompany, please contact Jake H. Kalpakian, President and CEO, at (604) 681-0204ext. 6105, or visit the Company's website at www.jackpotdigital.com.

On behalf of the Board of
Jackpot Digital Inc.

"JakeH. Kalpakian"
_____________________________
Jake H. Kalpakian
President & CEO

Trading in the securities of the Companyshould be considered speculative.

The TSX Venture Exchange has neitherapproved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy ofthis news release.

SOURCE: Jackpot Digital Inc.

View Comments and Join the Discussion!