Golden Matrix Group Unit's Founder Agrees to Debt-to-Equity Conversion-February 2024-www.financetom.com

Golden Matrix Group Unit's Founder Agrees to Debt-to-Equity Conversion

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Golden Matrix Group Unit's Founder Agrees to Debt-to-Equity Conversion

Sep 10, 2024 11:49 PM

10:54 AM EDT, 09/10/2024 (MT Newswires) -- Golden Matrix Group ( GMGI ) said Tuesday that the founder of its Meridianbet unit, Aleksandar Milovanovic, will convert $2 million of debt owed to him into company equity.

This reduces the debt from $2.8 million to $805,671, the company said, adding that the move shows Milovanovic's confidence in Golden Matrix ( GMGI ).

The company said the conversion improves its net debt leverage and aligns key stakeholders' interests with its long-term targets for growth.

Shares of Golden Matrix ( GMGI ) rose 3.1% in recent trading.

Price: 2.29, Change: +0.07, Percent Change: +3.10

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