Jackpot Digital Reports Increased Warrant Activity Led by Insider

Rhea-AI Summary

Jackpot Digital (OTCQB: JPOTF) reported heightened warrant exercise activity and insider buying on November 6, 2025. Over the last 60 days 11,167,843 warrants at $0.10 were exercised; warrants expire November 20, 2025. Insider Lyle Berman exercised 4,196,100 warrants and, after conversions and exercises, the Acquiror now beneficially owns 46,818,828 common shares (≈16.74%) and holds convertible debentures and warrants that could further dilute shares.

The company also reported recent installations of its Jackpot Blitz dealerless ETGs in casinos across California, Louisiana, New York and Wisconsin.

Positive

• 11,167,843 warrants exercised at $0.10 in last 60 days
• Insider Lyle Berman exercised 4,196,100 warrants
• Company installed Jackpot Blitz ETGs in 4 U.S. states

Negative

• Acquiror holdings rose to 46,818,828 shares (≈16.74%)
• Convertible debentures could convert to 9,290,000 shares at $0.075
• Remaining warrants expire on November 20, 2025 (near-term)

Vancouver, British Columbia--(Newsfile Corp. - November 6, 2025) - Jackpot Digital Inc. (TSXV: JJ) (TSXV: JJ.WT.C) (OTCQB: JPOTF) (Frankfurt Stock Exchange: LVH3) (the "Company" or "Jackpot Digital").

The Company is experiencing increased activity in the exercise of its trading warrants, which are currently listed and trading under the symbol "JJ.WT.C" on the TSX Venture Exchange. During the last 60 days, a total of 11,167,843 warrants, priced at $0.10 per share, have been exercised. These trading warrants expire on November 20, 2025.

This week, Mr. Lyle Berman, an insider of the Company, exercised 4,196,100 trading warrants.

Mr. Berman was inducted into the American Gaming Association's Hall of Fame, and was the Co-Founder of Grand Casinos Inc., and served as the Chairman of the Board of the World Poker Tour among other notable business achievements.

Mr. Berman commented, "Once Jackpot Digital is licensed in all major markets, their Jackpot Blitz® electronic poker tables will become essential for all low-limit poker games in casinos and card rooms."

The Company continues to expand its footprint with the rollout of its flagship product, Jackpot Blitz® dealerless electronic table games (ETGs), to casinos across the United States. In the past month, Jackpot Digital has successfully installed ETGs in casinos in California, Louisiana, New York and Wisconsin.

Early Warning Report

Mr. Lyle Berman, through his revocable trust, (the "Acquiror") has filed an early warning report (the "Early Warning Report"), advising that on August 1, 2025 and November 3, 2025 (the "Effective Date"), he acquired securities of the Company through the conversion of certain convertible debentures and the exercise of certain warrants.

Immediately prior to the Effective Date, the Acquiror had beneficial ownership, or exercised control or direction, both directly and indirectly over: (i) 33,452,728 Common Shares and (ii) 42,622,728 Warrants entitling him to acquire 42,622,728 Common Shares at $0.10 per Common Share. These holdings represented approximately 13.03% of the then outstanding Common Shares of the Company on an undiluted basis and 13.79% of the then outstanding warrants on an undiluted basis. Following the conversion of certain convertible debentures and exercise of warrants, the Acquiror has beneficial ownership or exercises direction or control over, directly and indirectly over: (i) 46,818,828 Common Shares; (ii) 38,426,628 Warrants; (iii) convertible debentures of the Company in the principal amount of $696,750 entitling him to acquire an additional 9,290,000 Common Shares at $0.075 per Common Share; and (iv) Notes in the amount of $2,000,001. His aggregate holdings now represent approximately 16.74% of the outstanding common shares of the Company, and 12.48% of the outstanding warrants of the Company.

The Acquiror may acquire further common shares of, or dispose his holdings of common shares of, Jackpot through the conversion of convertible debentures, exercise of warrants or through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and relates to the Acquiror and the Company, whose head office is located at 575 - 510 Burrard Street, Vancouver, British Columbia, V6C 3A8 Canada. A copy of the Early Warning Report can be obtained at www.sedarplus.ca under the Company's profile, or by contacting Matthew Schofield at ms@bermancc.com.

About Jackpot Digital Inc.

Jackpot Digital Inc. is a leading provider of electronic poker table games, offering innovative gaming solutions to casinos worldwide. The Company specializes in the development and deployment of dealerless multiplayer electronic poker ETGs, providing operators with efficient, cost-effective, and revenue-generating alternatives to traditional live-dealer table games. Jackpot Digital is committed to enhancing the player experience and helping operators optimize their gaming offerings.

For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681-0204 ext. 6105, or visit the Company's website at www.jackpotdigital.com.

On behalf of the Board of Jackpot Digital Inc.,

"Jake H. Kalpakian"

_____________________________

Jake H. Kalpakian
President & CEO

Trading in the securities of the Company should be considered speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273382

FAQ

How many warrants did Jackpot Digital (JPOTF) report exercised in the last 60 days?

The company reported 11,167,843 warrants were exercised at $0.10 per share in the last 60 days.

What warrant activity did insider Lyle Berman report for JPOTF on November 6, 2025?

Mr. Lyle Berman exercised 4,196,100 trading warrants as disclosed in the early warning filing.

What is Lyle Berman's post-transaction ownership percentage in JPOTF?

Following conversions and exercises, the Acquiror holds approximately 16.74% of outstanding common shares.

When do Jackpot Digital's trading warrants (JJ.WT.C) expire and why does it matter to JPOTF investors?

The trading warrants expire on November 20, 2025, creating a near-term window for further exercises or dilution.

Where has Jackpot Digital installed its Jackpot Blitz ETGs recently for JPOTF investors?

The company installed Jackpot Blitz dealerless ETGs in casinos in California, Louisiana, New York and Wisconsin.

Could JPOTF shares be further diluted from current filings?

Yes; the Acquiror holds convertible debentures convertible into 9,290,000 shares at $0.075 and outstanding warrants.