Golden Matrix Group (GMGI) Eliminates $9.5M Debt Through Equity Conversion

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Go back to Golden Matrix Group (GMGI) Eliminates $9.5M Debt Through Equity Conversion

Golden Matrix Group Eliminates 9.5 Million Dollar Debt Through Equity Conversion

April 14, 2025 8:39 AM EDT

LAS VEGAS, NV - April 14, 2025 (NEWMEDIAWIRE) - Golden Matrix Group Inc. (NASDAQ: GMGI) (GMGI or the Company) today announced that Aleksandar Milovanovic, Zoran Milosevic, and Snezana Bozovic, founders of GMGIs wholly owned subsidiary Meridianbet, have converted an aggregate of $9,570,460 in acquisition-related debt into equity.

The converted amount was originally part of the 12-Month Non-Contingent Post-Closing Cash Consideration outlined in the acquisition agreement. Following this conversion, the remaining balance of this 12-month contingency, owed to the Meridianbet founders has been reduced to $250,000.

This strategic move significantly strengthens GMGIs balance sheet and underscores the... More