08:38 AM EDT, 10/02/2024 (MT Newswires) -- Golden Matrix Group ( GMGI ) said Wednesday that it has amended the earnout structure of its share purchase agreement with Meridianbet to convert part of the post-closing cash payments to company stock.

The company said the amendment, made on Tuesday, changes the terms of payments to Meridianbet's sellers, Aleksandar Milovanovic, Zoran Milosevic, and Snezana Bozovic. Milovanovic and Milosevic will now receive 40% of their post-closing cash consideration in Golden Matrix ( GMGI ) common stock, while Bozovic will receive 20% in shares, Golden Matrix ( GMGI ) said.

The remaining cash payments for each seller will be deferred or paid in monthly installments, the company added.