VALLETTA, Malta and LAS VEGAS — November 28, 2025 — Leads & Copy — Aleksandar Milovanović, the founder and largest shareholder of Meridianbet, has chosen to convert $8 million of owed cash consideration into equity, reinforcing his confidence in Golden Matrix’s (NASDAQ: GMGI) long-term growth. Under the terms of the agreement, Milovanovic will convert $8 million of 18-Month Non-Contingent Post-Closing Cash Consideration into 8 million shares of Golden Matrix common stock, at a conversion price of $1.00 per share.
This transaction, executed under the Ninth Amendment to the Amended and Restated Sale and Purchase Agreement related to Golden Matrix’s acquisition of Meridianbet, aims to strengthen Golden Matrix’s financial standing by eliminating $8 million in near-term cash obligations, preserving capital for growth and expansion, reducing leverage, increasing financial flexibility, and prioritizing shareholder value creation.
Milovanović’s decision to increase his equity stake, rather than receive cash, is a signal of his belief in the company’s value creation potential. He beneficially owns approximately 93.3 million shares of Golden Matrix common stock. Milovanović’s decision to forgo immediate liquidity underscores his confidence in the company’s strategic direction and growth prospects.
Meridianbet Group, founded in 2001, is an online sports betting and gaming group, licensed and operating in 18 jurisdictions across Europe, Africa, and South America, and uses proprietary technology and scalable systems to operate in multiple countries and currencies with an omni-channel approach to markets. Golden Matrix Group (NASDAQ: GMGI), based in Las Vegas, NV, is a B2B and B2C gaming technology company operating across international markets. Its B2B division licenses gaming platforms, while its B2C division operates RKings Competitions and MEXPLAY, a regulated online casino in Mexico.
Forward-Looking Statements
This press release contains forward-looking statements subject to factors that may cause actual results to differ materially, including the ability to obtain funding, integrate acquired operations, realize synergies, attract and retain personnel, changes in consumer preferences and regulations, and economic conditions. These risks are detailed in Golden Matrix’s filings with the SEC, including its annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, available at www.sec.gov. The company does not undertake to update any forward-looking statements.
Contact: ir@meridianbet.com
Aleksandar Milovanović
Source: Golden Matrix Group
