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

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 10/23/2026

1. RNG
2. DECK
3. WDC
4. BYD
5. SPOT
6. WCN
7. BMY
8. TSCO
9. BE
10. FIX

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