Golden Matrix Group Inc. announced a significant debt-to-equity conversion involving Aleksandar Milovanović, founder and largest shareholder of Meridianbet. Milovanović elected to convert $8 million of post-closing cash consideration owed to him into 8 million shares of Golden Matrix common stock at a conversion price of $1.00 per share. This transaction eliminates $8 million in near-term cash obligations for the company, strengthens its balance sheet, and enhances financial flexibility. Milovanović now beneficially owns approximately 93.3 million shares, further aligning his interests with those of other shareholders and demonstrating confidence in Golden Matrix's long-term growth prospects.
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