California-based TableMAX Holdings, LLC, a supplier of multi-player electronic table games, announced the closing of a share exchange with CJPG, Inc., which constitutes a reverse acquisition
CJPG, Inc. (Pink Sheets: CSJP – News) is the Nevada corporation formerly known as Casino Journal Publishing Group, Inc., which once published Casino Player and Strictly Slots magazines. It trades on the pink sheet section of the OTC under the symbol CSJP. Under the terms of the share exchange transaction, TableMAX members will be issued shares of CJPG’s common stock in exchange for 100 percent of the issued and outstanding membership interests of TableMAX.
In connection with the transaction, CJPG changed its corporate name to TableMAX Corporation and Stephen Crystal, president and CEO of TableMAX, was appointed to serve as president and CEO of the new company.
The company expects to change its trading symbol in the future.
In conjunction with the share exchange transaction, the company completed a private placement financing transaction in which it received approximately $3 million in gross offering proceeds in the form of cash and the cancellation of debt, before payment of commissions and fees.