Targeted Marketing and Expansion Plans to Lead Growth
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2018) - LottoGopher Holdings Inc. (CSE: LOTO) (OTCQB: LTTGF) (FSE: 2LG) ("LottoGopher" or the "Company"), a lottery messenger service that allows users to easily order and manage their state lottery tickets online, is pleased to provide an update on its lottery messenger service.
Since closing on its over-subscribed private placement of CAD$3.7 million in late January, LottoGopher has carefully analyzed different methods of deploying capital toward growing its lottery messenger service. After identifying and analyzing varying approaches and strategies, LottoGopher is now ready to commence deploying capital in a prudent fashion to expand its business.
LottoGopher, currently offered in California, has identified and started the process to expand to its next four states, located in the eastern and southern part of the United States. The Company has submitted comments to regulators in one of the states and expects to be licensed and approved by the end of the summer.
LottoGopher partnered with a firm that provides U.S. ticket procurement services to other lottery messenger services worldwide. This initiative will drive lottery ticket acquisition to LottoGopher in newly expanded states.
LottoGopher is identifying and negotiating with online influencers to assist with direct marketing to consumers. Additional direct to consumer channels, such as informational segments on major television networks and shows, native advertorial stories on high traffic websites and expanded social media campaigns are all being evaluated.
The potential acquisition of a customer database previously announced by LottoGopher on November 20, 2017 has been terminated due to unsatisfactory due diligence on the proposed customer list and its valuation. LottoGopher has determined not to pursue the transaction.
LottoGopher also announces that it has granted an aggregate of 3,100,000 stock options to certain of its directors, officers, consultants and advisory board members. The stock options have an exercise price of $0.20 CAD per share and expire 5 years from the date of grant. In addition, LottoGopher entered into an amended employment agreement with its CEO, James Morel, pursuant to which Mr. Morel will receive an annual salary of USD $250,000 and share awards of an aggregate of up to 950,000 common shares, with 350,000 common shares being issued upon entering into the agreement and an additional 200,000 common shares being issued on the dates that are 6 months, 12 months and 18 months from the date of the agreement, subject to Mr. Morel remaining as an employee of LottoGopher.
About LottoGopher
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.