TechMediaBreaks – Golden Matrix Group Inc. (NASDAQ: GMGI) Board Authorizes Stock Repurchase Program

July 17, 2024 at 14:00 PM EDT

Golden Matrix (NASDAQ: GMGI), an international developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, announced that its board of directors has authorized a stock repurchase program. The program, which is subject to any future extension identified by the board, outlines the repurchase of up to $5 million shares of the company’s common stock. The repurchase program was slated to expire on July 15, 2025, when a maximum of $5 million of the company’s common stock had been repurchased, or when it is discontinued by the board. The program is expected to be funded using the company’s working capital. “We believe the repurchase program may provide numerous benefits to the company and its stockholders, including, among others, possibly help counteract the short interest in the company’s common stock, mitigation of overhang on the market for the company’s common stock, attractive use of the company’s capital to repurchase shares at current prices, a more tax-efficient way of returning capital to shareholders compared to declaring cash dividends and accretion to earnings per share,” said Golden Matrix CEO Anthony Brian Goodman in the press release.

To view the full press release, visit https://ibn.fm/VYo7E

About Golden Matrix Group Inc.

Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating globally across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients. Its B2C division, RKings, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company also owns and operates MEXPLAY, a regulated online casino in Mexico. Founded in 2001, the MeridianBet Group is a well-established online sports betting and gaming group, licensed and currently operating in 15 jurisdictions across Europe, Africa and South America. The MeridianBet Group’s successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omnichannel approach to markets, including retail, desktop online and mobile. The company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law. For more information about the company, visit www.GoldenMatrix.com.

NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer

TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
[email protected]