04:51:57 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Lottogopher Holdings Inc
Symbol LOTO
Shares Issued 63,689,861
Close 2018-01-19 C$ 0.215
Market Cap C$ 13,693,320
Recent Sedar Documents

Lottogopher closes $3.7-million private placement

2018-01-22 10:40 ET - News Release

Mr. James Morel reports

LOTTOGOPHER HOLDINGS CLOSES OVER-SUBSCRIBED PRIVATE PLACEMENT OF CAD$3.7 MILLION

Lottogopher Holdings Inc. has closed its previously announced financing (refer to news release dated Dec. 4, 2017). The company closed more than the targeted maximum and just shy of the overallotment of its non-brokered private placement, raising gross proceeds of $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 25 cents per share for a period of five 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 25 cents per warrant (five-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.

About Lottogopher Holdings Inc.

Lottogopher is a lottery messenger service that allows users to easily order and manage their state lottery tickets on-line using a debit or credit card. By allowing individuals to choose their numbers and safely order tickets for the official lottery drawings in California, Lottogopher makes it simple for users to keep track of their tickets and winnings. With Lottogopher, individuals can either play alone with a single ticket or create and join on-line public and private groups to pool winnings from California lotteries, including Mega Millions, Powerball and SuperLotto Plus. Lottogopher offers memberships that allow California residents to order multiple tickets from various lotteries.

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