LottoGopher Holdings Closes Over-Subscribed Private Placement of CAD$3.7 Million
Proceeds Targeted for Customer Acquisition and Expansion
VANCOUVER – January 22, 2018- LottoGopher Holdings Inc. (« LottoGopher » or the « Company ») (CSE: LOTO) (OTCQB: LTTGF) (Frankfurt: 2LG) today announces the final closing of the previously announced financing (refer to news release dated December 4th, 2017). The Company closed more than the targeted maximum and just shy of its over-allotment of its non-brokered private placement, raising gross proceeds of CAD$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 $0.25 cents per share for a period of 5 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 $0.25 per warrant (5 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.
LottoGopher is a lottery messenger service that allows users to easily order and manage their state lottery tickets online 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 online 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. LottoGopher also enables users to stay up to date on the latest drawings, track their tickets and collect winnings. Members have exclusive access to expert player strategies, jackpot alerts, lottery news, lucky number pickers and winners’ financial resources.
On behalf of the Board of LottoGopher Holdings Inc.
« James Morel »
President, CEO & Director
5W Public Relations
3807 Wilshire Blvd. Suite 705
Los Angeles CA, USA
This new release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation, including statements in respect of the private placement. Forward-looking information may include financial and other projections, statements regarding expansion plans, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. This prospectus uses words such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, and other similar expressions to identify forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.