Golden Matrix Group, Inc. (NasdaqCM:GMGI) entered into a definitive acquisition agreement to acquire MeridianBet Group from Aleksandar Milovanovic, Zoran Milosevic and Snezana Bozovic for approximately $340 million on January 11, 2023. The purchase price will be satisfied by the issuance to MeridianBet stockholders of approximately 65.3 million common shares of GMGI, based on an agreed price of $3.50 per share, and $70 million in cash. Upon closing of the acquisition, the MeridianBet Group of companies will become wholly-owned subsidiaries of GMGI. The acquisition agreement has been approved by the Board of Directors of each company. The acquisition is expected to close in the first half of 2023, subject to customary conditions to closing, including GMGI raising required funding, completion of due diligence, GMGI shareholder approval, and regulatory approvals. The Loev Law Firm and Howard & Howard represented GMGI and the MeridianBet Group shareholders, respectively, in this Acquisition. As on June 30, 2023, Golden Matrix and MeridianBet Sign Amended and Restated Purchase Agreement, Under the terms of the revised agreement, among other changes to the consideration payable by GMGI to the sellers, the cash required to be paid by GMGI at the closing of the transaction has been reduced from $50 million to $30 million(with $20 million in non-contingent cash consideration due post-closing), In consideration of the reduced cash amount required to be paid at the closing of the transaction, the revised cash and stock transaction now has a value of approximately $331 million, with the stock consideration priced at $3 per share - currently an approximate 38% premium to GMGI?s 30-day VWAP closing price (with 82,141,857 shares of common stock due at the initial closing. GMGI is currently working to obtain the financing required to complete the transaction and plans to file the required proxy statement to seek shareholder approval for the acquisition, among other items, in the third quarter of 2023. The acquisition is subject to various conditions to closing, including GMGI raising required funding, GMGI shareholder approval, and other items and expected to close in the third or fourth quarter of 2023. As of October 4, 2023, The acquisition is expected to close in the fourth quarter of 2023 or first quarter of 2024, subject to customary conditions to closing including, but not limited to GMGI shareholder approval, and Nasdaq approval, to the extent required, and other items. As of January 17, 2024, The transaction is expected to close during the first calendar quarter of 2024. As of February 6, 2024, February 6, 2024 Golden Matrix Group Inc announced that they will hold a Special Meeting of Shareholders to vote on, among other things, the proposed acquisition of the MeridianBet Group. The meeting will take place on March 19, 2024. As on March 19, 2024, Golden Matrix Group shareholders voted to approve the terms of, and the issuance of shares of common stock in connection with, that certain previously announced Amended and Restated Sale and Purchase Agreement for the acquisition of MeridianBet Group. Golden Matrix continues to work toward completing the transaction and currently anticipates such conditions to closing occurring prior to, and such closing occurring, in April 2024. The Loev Law Firm, PC and Howard & Howard Attorneys PLLC served as legal advisors to MeridianBet Group and Golden Matrix Group, Inc.

Golden Matrix Group, Inc. (NasdaqCM:GMGI) completed the acquisition of MeridianBet Group from Aleksandar Milovanovic, Zoran Milosevic and Snezana Bozovic on April 9, 2024.