Golden Matrix Group (NASDAQ:GMGI) Resumes Stock Repurchase Program

On December 20, 2024, Golden Matrix Group, Inc. announced its intention to resume its stock repurchase program, as disclosed in a press release filed on the same date. The Company’s board of directors had previously authorized the repurchase program, allowing for the repurchase of outstanding shares of common stock through various means, including open market transactions, privately negotiated deals, block trades, or under 10b5-1 trading plans.

The decision to resume the repurchase program comes as the Company’s divisions are performing satisfactorily, with expectations of continued growth into the fourth quarter. Golden Matrix Group, as highlighted by Mr. Brian Goodman, the Chief Executive Officer, projects strong financial standing with significant cash reserves exceeding its current debt obligations, positioning it favorably to manage debts and explore potential accretive acquisitions.

At present, the Company has approximately $4.958 million available under the repurchase program, with 129,242,993 shares of common stock outstanding. The board retains the flexibility to modify, suspend, or terminate the stock repurchase program as deemed necessary.

Golden Matrix Group, a gaming technology company, operates on both business-to-business (B2B) and business-to-consumer (B2C) models across international markets. The B2B segment develops and licenses gaming platforms, while the B2C operations provide sports betting and gaming services. The Company emphasizes innovation and technology to deliver cutting-edge solutions to its clients and customers.

The announcement also highlighted that the forward-looking statements contained in the press release and the Form 8-K filing should be viewed cautiously, as they are subject to risks, uncertainties, and external factors beyond the Company’s control. Factors such as funding for the repurchase program, market conditions, and price fluctuations could impact the actual outcomes and results.

Investors and stakeholders are encouraged to review the detailed financial information and disclosures provided in the Company’s periodic filings with the Securities and Exchange Commission (SEC) for a comprehensive understanding of the risks and factors influencing the Company’s financial performance and operations.

For more information about Golden Matrix Group and its operations, interested parties can visit the Company’s official website at www.goldenmatrix.com.

Investors seeking additional details can reach out to Brett Milotte, Investor Relations contact, at [email protected].

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Golden Matrix Group’s 8K filing here.

Golden Matrix Group Company Profile

Golden Matrix Group, Inc provides enterprise software-as-a-service solutions for online casino and sports betting operators. The company develops and owns online gaming intellectual property; and builds gaming platforms for customers located primarily in the Asia Pacific region. Its platform facilitates gaming customers in operating online casinos, sportsbooks, lottery, and live games; and provides customers with access to a portfolio of licensed gaming content, which are provided by gaming content providers.