Golden Matrix reaches debt conversion agreement with Meridianbet founder
The company said this deal can potentially foster future company growth.
Golden Matrix Group (GMGI) has announced that the Founder of its subsidiary Meridianbet, Aleksandar Milovanović, has agreed to convent $2m in debt he was owed from the recent Meridianbet merger acquisition into company equity.
As a result, his total debt will be reduced from nearly $2.8m to almost $0.8m.
The company said in a statement, “This strategic decision highlights Milovanović’s confidence in Golden Matrix Group’s performance and his commitment to ensuring the company continues its significant growth trajectory.”
GMGI CEO Brian Goodman described this financial decision as a “strong message” to those connected with the company.
He went on to say, “This move sends a strong message to the market and to our shareholders. Mr. Milovanović’s decision to convert his debt to equity reflects both his and the company’s confidence in Golden Matrix’s short- and long-term outlooks.
“This action not only reduces our outstanding debt but reinforces our belief in the company’s potential for sustained growth.”
Goodman also took a moment to thank Milovanović for his support during the transition.
He said in closing, “We are excited about our path forward and performance to date, and the management team extends our gratitude to Mr. Milovanović for his continued support and confidence in the company’s vision.”
Golden Matrix serves as a licensor, developer and global operator in both the eCommerce and online gaming platforms.
The company also recently released an update on its global expansion plans and addressed its potential launch within the Brazilian market.
The report focused primarily on its “efforts to expand its market presence, particularly with its anticipated entry into the US iGaming market.”
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