07:40 AM EST, 01/24/2025 (MT Newswires) -- Matador Technologies (MATA.V), which gained almost 10% on Thursday, said it bought 1 kilogram of gold for about USD$89,208 to add to its balance sheet, supporting the development of its gold product set to launch in early 2025.

The physical gold holdings, which is now 2 kilograms, will remain securely stored at the Royal Canadian Mint, the company said in a statement on Friday.

"Gold is a cornerstone of Matador's first product, not just as a financial asset but as the foundation for our digital gold products," said Matador Technologies Chief Executive Deven Soni. "This move reflects our commitment to combining the timeless appeal of gold with the modern engagement opportunities presented by blockchain technology."

Shares of the company closed up $0.040 to $0.450 on Thursday on the TSX Venture Exchange.