Jackpot Digital's Plan of Arrangement Receives Final Court Approval and Jackpot Sets Record Date of the Spinout
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Jackpot Digital Inc. (TSXV:JJ) received the final approval from the Supreme Court of British Columbia for the spinout of its online gaming assets to its wholly owned subsidiary Yo Eleven Gaming Inc (“Yo Eleven”) by a plan of arrangement pursuant to the British Columb Business Corporations Act. YoEleven will issue to Jackpot shareholders one Yoeleven common share for every five JackPot common shares held.
Jackpot Digital's Plan of Arrangement received final court approval. The ex-distribution date and record date of the Spinout are October 29, 2021 and November 1, 2019. No fractional shares of Yo Eleven will be distributed to Jackpot shareholders. All fractionals amounting to the Ar arrangement will have to be rounded down to a whole number. 124,967 JackPot common shares were issued at a deemed price of $0.28 per common share in settlement of accrued interest todebenture holders totaling $34,990.96.
Jackpot Digital's Plan of Arrangement Receives Final Court Approval and Jackpot Sets Record Date of the Spinout.
Jackpot Digital's Plan of Arrangement Receives Final Court Approval and Jackpot Sets Record Date of the Spinout. The Company’s proposed spin-out of its online gaming software assets to Yo Eleven is forward-looking. Forward- looking statements are subject to a variety of risks and uncertainties and could cause actual events or results to differ from those expressed or implied.
