Golden Matrix Group Inc. (NASDAQ: GMGI) has announced a strategic financial maneuver that transforms substantial acquisition-related debt into company equity. Aleksandar Milovanovic, Zoran Milosevic, and Snezana Bozovic, founders of GMGI’s subsidiary Meridianbet, have converted $9,570,460 of debt originally outlined in their acquisition agreement.
The conversion reduces the remaining 12-month contingency balance to $250,000, demonstrating a significant financial restructuring. Brian Goodman, GMGI’s CEO, emphasized the move as a powerful market signal reflecting the founders’ belief in the company’s potential for short- and long-term growth.
Zoran Milosevic, Meridianbet’s CEO, described the conversion as more than a financial transaction, characterizing it as a reflection of confidence in GMGI’s operational strength and strategic vision. The equity conversion is expected to enhance the company’s financial flexibility as it advances its global growth strategy.
This transaction improves GMGI’s Net Debt Leverage and underscores the ongoing commitment of Meridianbet’s founders to the company’s long-term objectives. By converting debt to equity, the founders have signaled their alignment with GMGI’s strategic direction and potential for future success.
The move comes as GMGI continues to expand its presence in the gaming technology sector, operating across multiple international markets with both business-to-business and business-to-consumer divisions.
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