Each one in plain English, with the numbers worked through for a shareholder.
4 Nov 2024capital raising announcement● Neutral
On October 1, 2024 the company proposed a private placement of up to 2,000,000 units at $0.10 for up to $200,000, each unit a share plus a 3-year warrant at $0.15, for general working capital. Insiders may participate and finder's fees may be paid. This is only a proposal; no closing is reported. The office address is now Suite 575, 510 Burrard Street, Vancouver, and the listing symbol is shown as JJJ rather than JJJ.X (the filing gives no reason).
What it means for a shareholder
2.0m new shares at $0.100 to raise about $200,000. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held $1,000 of shares (10,000 at the issue price), your slice goes from 0.0727% to 0.0635% of the company. To keep it you'd need 1,455 more shares - about $146 at the issue price.
A private placement that closed May 15, 2023 sold units at $0.025; Rob Fia bought 3,000,000 and now holds 3,040,000 shares (~25%) and 3,000,000 warrants. On June 1, 2023 the company proposed raising up to $100,000 (4,000,000 units at $0.025, 5-year $0.05 warrants) to pay liabilities and for working capital. It also proposed a flow-through raise of up to $100,000 for British Columbia exploration, and on July 24, 2023 closed that flow-through financing at $50,000 for 2,000,000 units, all taken by two insiders. Issue prices are lower than the $0.05 used in earlier financings, so new shares come in at a lower price.
What it means for a shareholder
4.0m new shares at $0.025 to raise about $100,000. That's 41% dilution: every existing holder's slice gets 41% smaller. If you held $1,000 of shares (40,000 at the issue price), your slice goes from 0.696% to 0.41% of the company. To keep it you'd need 27,846 more shares - about $696 at the issue price.
On October 7, 2022 the company closed the second part of a private placement, raising $30,000 from 750,000 units, each a share plus a 5-year warrant at $0.05. An insider bought all of them; the release says CEO Jake Kalpakian, through his private company, now holds 1,439,039 shares (~25.95%) and 1,015,000 warrants. The filing also includes notice of the November 14, 2022 annual meeting (four directors, auditor Dale Matheson Carr-Hilton Labonte, re-approval of the stock option plan). The raise is small and mostly from the CEO, adding shares for existing holders.
10 Feb 2021capital raising announcement● NeutralMajor
On January 15, 2021 the company issued 400,000 flow-through units (raising $20,000) instead of the up to 4,000,000 units and $200,000 it had intended; the filing attributes the shortfall to Covid-19. Each unit has a share and a two-year warrant at $0.10, and the money is for British Columbia mineral exploration in fiscal 2021. It also agreed to settle debts with shares at a deemed $0.05, up to 23,328,810 shares, and on January 25, 2021 issued 14,787,030 of them to creditors including a related party and a director/officer. Jackpot Digital Inc. now holds 3,036,885 shares (~13.51%) and CEO Jake Kalpakian 3,190,195 shares (~14.19%), so existing holders are diluted. The debt was cleared by issuing shares, not cash.
The filing is mainly the notice and circular for the November 20, 2020 annual meeting (elect four directors, reappoint the auditor Dale Matheson Carr-Hilton Labonte, re-approve the stock option plan). Its headline item is an October 16, 2020 amendment to the option agreement for the Acacia Property in central British Columbia, but the provided text is truncated before the amendment terms, so they cannot be stated here.
On July 11, 2019 President and CEO Jake Kalpakian, through a private company, bought 700,000 shares at $0.05, taking him to 2,616,220 shares, about 37% of the company. A July 2 update said the company offered Colt Resources, its joint venture partner, to raise its 33% interest in the Extra High Property (British Columbia, 650 hectares) to 80%, awaiting Colt's response. It also said the CSE deemed the company inactive (symbol now JJJ.X) and a share consolidation and name change were expected shortly.
A non-brokered private placement announced in a January 10, 2019 news release did not close and has expired, so no money was raised from it. Management says it will keep looking for an opportunity of merit and hopes to acquire one in due course.
12 Feb 2018capital raising announcement● NeutralMajor
37 Capital announced a planned non-brokered private placement of up to 5,000,000 units at $0.15 each, for up to $750,000. Each unit has one share and one warrant to buy another share at $0.20 for 5 years; proceeds are to pay existing liabilities and for general working capital. Insiders may take part and finder's fees may be payable. This is a proposal, not a completed raise.
What it means for a shareholder
5.0m new shares at $0.150 to raise about $750,000. That's 44% dilution: every existing holder's slice gets 44% smaller. If you held $1,000 of shares (6,667 at the issue price), your slice goes from 0.103% to 0.058% of the company. To keep it you'd need 5,134 more shares - about $770 at the issue price.
This continues the 2015 spin-off plan: the record date is set for February 9, 2016 and the arrangement is expected to take effect on or about February 12, 2016. Shareholders of record will receive shares of 27 Red Capital (Spinco1) and 4 Touchdowns Capital (Spinco2), 2,067,724 of each in total, and the company's shares trade without the right to them from February 5, 2016. The company pays $20,677.24 plus a $20,677.24 promissory note to each Spinco as part of the share redemptions.
37 Capital signed an agreement on April 30, 2015 with two wholly-owned private subsidiaries, 27 Red Capital Inc. and 4 Touchdowns Capital Inc., to spin them out to shareholders under a plan of arrangement. Shareholders would keep their 37 Capital shares and also receive 100% of each new company, each intended to acquire a business after completion; a shareholder vote is set for June 4, 2015, and court approval is also needed.
