Golden Matrix Group Inc. has eliminated $9,570,460 of acquisition-related debt through an equity conversion by Meridianbet's founders, a strategic financial move that enhances the company's fiscal stability and signifies strong internal confidence.
Aleksandar Milovanovic, Zoran Milosevic, and Snezana Bozovic, founders of GMGI's wholly owned subsidiary Meridianbet, converted their outstanding debt into company equity. This action reduces the remaining 12-month contingency balance to just $250,000, substantially strengthening the company's financial position.
CEO Brian Goodman emphasized the significance of this transaction, noting that the founders' decision reflects both personal belief and the company's growth potential. The debt-to-equity conversion provides enhanced financial flexibility as Golden Matrix Group continues its global expansion strategy.
Zoran Milosevic, Meridianbet's CEO, described the conversion as more than a financial transaction, characterizing it as a testament to the company's operational strength and strategic vision. The move underscores the founders' long-term commitment to GMGI's growth trajectory.
This financial maneuver improves the company's net debt leverage and positions Golden Matrix Group to pursue strategic initiatives across its international markets. The conversion signals strong internal confidence and provides additional resources for potential future growth and development.
