Golden Matrix Group Authorizes $3 Million Stock Repurchase Program

Golden Matrix Group Inc. (NASDAQ:GMGI) announced that its Board of Directors has authorized the repurchase of up to $3.0 million of the company's common stock. The program is scheduled to expire on December 15, 2026, unless extended or discontinued earlier by the board.

Chief Financial Officer Rich Christensen stated the company believes its shares are trading at a significant discount to intrinsic value, making the repurchase program a disciplined and attractive use of capital. "By reducing market overhang, addressing short interest, and repurchasing shares at current price levels, we are confident this initiative will enhance long-term shareholder returns," Christensen said. He noted the program provides a more tax-efficient method of returning capital compared to dividends while driving earnings-per-share accretion.

Under the program, shares may be repurchased in the open market or through negotiated transactions at prevailing market rates, subject to federal securities laws. Repurchases will be made at management's discretion based on factors including share availability, general market conditions, trading prices, alternative capital uses, and the company's financial performance. Open market purchases will follow limitations set forth in Rule 10b-18 of the Securities Exchange Act of 1934, and repurchases may also occur under Rule 10b5-1 plans, which allow purchases when the company might otherwise be restricted by insider trading laws.

The program may be suspended, terminated, or modified at any time for various reasons, including market conditions, repurchase costs, alternative investment opportunities, liquidity, and other factors. The company is not obligated to purchase any specific number of shares, and there is no guarantee regarding the exact number or value of shares that will be repurchased. The program will be funded using the company's working capital. As of September 30, 2025, Golden Matrix had 140,660,454 shares of common stock issued and outstanding. All repurchased shares will be retired and returned to treasury.

This announcement carries significant implications for investors and the broader gaming technology sector. For shareholders, the repurchase program signals management's confidence in the company's undervalued stock and future prospects. By reducing the number of outstanding shares, the company aims to increase earnings per share and potentially boost stock prices, benefiting existing investors. The tax efficiency compared to dividends makes this approach particularly attractive in the current regulatory environment.

For the industry, Golden Matrix's move reflects a growing trend among gaming technology companies to return capital to shareholders through share repurchases rather than dividends. This approach allows companies to signal confidence while maintaining flexibility in capital allocation. The company's ability to fund the program through working capital, without additional financing, demonstrates financial stability that could influence investor perceptions of the broader sector.

The timing of the program, set to run through December 2026, provides management with flexibility to execute repurchases when market conditions are most favorable. This strategic approach to capital management could serve as a model for other companies in the competitive online gaming and eCommerce platform space. The company's compliance with securities regulations, including following Rule 10b-18 guidelines and potentially utilizing Rule 10b5-1 plans, demonstrates a commitment to transparent and lawful market practices.

Investors can access the company's detailed financial information and risk factors through its SEC filings available at https://www.sec.gov, including the Annual Report on Form 10-K for the year ended December 31, 2024 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2025. These documents provide important context for understanding the company's financial position and the factors that could affect the execution and impact of the repurchase program.