LottoGopher Announces Bravio Technologies Ltd. $3,000,000 Brokered Private Placement of Subscription Receipts Co-Lead by Gravitas Securities Inc. and Canaccord Genuity Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2019) - LottoGopher Holdings Inc. (CSE: LOTO) (OTC Pink: LTTGF) (FSE: 2LG) ("LottoGopher" or the "Company") is pleased to announce that Bravio Technologies (the "Issuer" or "Bravio") has appointed Gravitas Securities Inc. ("GSI") and Canaccord Genuity Corp. ("Canaccord") as co-lead agents to act on their own behalf and if applicable, on behalf of a syndicate of agents (collectively the "Agents") to sell on a commercially reasonable best efforts basis of up to 5,000,000 subscription receipts of the Issuer (the "Subscription Receipts" or the "Offered Securities") at a price of C$0.60 per Subscription Receipt (the "Issue Price") for aggregate gross proceeds of up to C$3,000,000 (the "Offering"). Pursuant to the terms of the Offering, the Agents have been granted an over-allotment option to purchase up to 5,000,000 Subscription Receipts on the same terms of the Offering for additional gross proceeds of C$3,000,000 (the "Overallotment").
Each Subscription Receipt shall be automatically converted, without payment of any additional consideration and without further action on the part of the holder thereof, into one unit of the Issuer (a "Unit"), upon satisfaction of certain escrow release conditions subject to adjustment in certain events. Each Unit shall be comprised of one common share of the Issuer (a "Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable into one Common Share at a price of C$0.90 per Warrant (the "Exercise Price") for a period of two (2) years from the date the Escrow Release Conditions are satisfied. As part of the RTO (as defined below), the Common Shares and Warrants will be exchanged for common shares and warrants of the Resulting Issuer (as defined below).
The Offering is being made in the Provinces of British Columbia, Alberta and Ontario, as well as the United States.
