Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems and gaming content, is reporting that its board of directors authorized the repurchase of up to $2 million worth of shares of the company’s common stock. According to the announcement, the repurchase program will expire on Sept. 29, 2023, or when a maximum of $2 million has been repurchased, or when the program is discontinued by the board. In addition, the program may be suspended, terminated or modified for any reasons, including market conditions, cost of repurchasing shares, availability of alternative investment opportunities, liquidity, or other factors deemed appropriate; the authorization of the repurchase program does not obligate the company to purchase any particular number of shares. The company also noted that the program is subject to future extensions based on the discretion of the board. “We believe the repurchase program may provide numerous benefits to the company and its stockholders including, among others, mitigation of overhang on the market for the company’s common stock; attractive use of the company’s capital to repurchase shares at current prices; a more tax-efficient way of returning capital to shareholders compared to declaring cash dividends; and accretion to earnings per share,” said Golden Matrix Group CEO Anthony Brian Goodman in the press release.
To view the full press release, visit https://ibn.fm/K51QM
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients and RKings, its B2C division, operates a high-volume ecommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law. For more information about the company, visit www.GoldenMatrix.com
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
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