Curated News
By: NewsRamp Editorial Staff
October 02, 2024

Golden Matrix Group Inc. Announces Fifth Amendment to Share Purchase Agreement with Meridianbet

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Source News Release

TLDR

  • Golden Matrix Group Inc. will pay additional sums of cash and stock to the Sellers, aligning interests for long-term growth.
  • The Share Purchase Agreement was amended on October 1, 2024, to reflect the payment terms for the Sellers.
  • The conversion to Golden Matrix Common Stock aligns the interests of key stakeholders and provides enhanced financial flexibility for growth.
  • Golden Matrix Group Inc. has passed its fifth amendment to the initial share purchase agreement with Meridianbet, enhancing financial flexibility.

Impact - Why it Matters

This news matters because it demonstrates the commitment of Golden Matrix Group to align the interests of key stakeholders with the company’s long-term growth prospects. The amendment to convert contingent cash payments to Golden Matrix Common Stock is expected to provide the company with enhanced financial flexibility as it focuses on strategic initiatives and expansion efforts.

Summary

Golden Matrix Group Inc. (NASDAQ: GMGI) announced the fifth amendment to the initial share purchase agreement with Meridianbet, which obligates the company to pay additional sums of cash and Golden Matrix Common Stock to the Sellers within five days following October 9, 2024. The Share Purchase Agreement was amended to convert contingent cash payments to Golden Matrix Common Stock, aligning the interests of key stakeholders with GMGI’s long-term prospects for further growth and overall continued success.

Golden Matrix Group is a leading B2B and B2C gaming technology company, while Meridianbet Group is a well-established online sports betting and gaming group, licensed and/or currently operating in 17 jurisdictions across Europe, Africa, and South America. The amendments are expected to provide GMGI with enhanced financial flexibility as it continues to focus on its various strategic initiatives and expansion efforts.

Source Statement

This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Golden Matrix Group Inc. Announces Fifth Amendment to Share Purchase Agreement with Meridianbet

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