LAS VEGAS - Golden Matrix Group Inc. (NASDAQ:GMGI), a developer and operator of online gaming and eCommerce platforms, announced today that a Special Meeting of Shareholders will be convened to vote on the proposed acquisition of MeridianBet Group. The virtual meeting is scheduled for March 19, 2024, allowing shareholders to participate via a live audio webcast.
Shareholders on record as of January 31, 2024, as well as those holding a legal proxy, are eligible to vote at the upcoming meeting. The company has initiated the distribution of proxy materials and control numbers necessary for shareholders to join the webcast and cast their votes.
Golden Matrix, headquartered in Las Vegas, Nevada, operates in the B2B and B2C gaming technology sectors across various international markets. The company's B2B division focuses on developing and licensing gaming platforms, while the B2C division, known as RKings, runs an eCommerce site for paid competitions. Additionally, Golden Matrix owns MEXPLAY, a regulated online casino in Mexico. The company emphasizes its compliance with US law, rejecting any gaming or redemption requests from within the United States.
The definitive proxy statement, filed with the Securities and Exchange Commission (SEC) on February 2, 2024, seeks shareholder approval for the acquisition and the issuance of common stock related to the transaction. Investors and security holders have been advised to read this document, which contains important information about the proposed transaction, as well as any amendments or supplements and other relevant filings with the SEC.
Golden Matrix and certain directors and executive officers may be considered participants in the solicitation of proxies in respect of the transaction. The definitive proxy statement includes details about these individuals and their stake in the company. Similarly, the sellers, MeridianBet, and their respective directors, managers, and executive officers may also be deemed participants, with their interests detailed in the same statement.
This announcement is based on a press release statement and serves to inform shareholders and potential investors about the upcoming special meeting and its significance in the proposed acquisition process.
InvestingPro Insights
Golden Matrix Group Inc. (NASDAQ:GMGI) stands at a pivotal moment with the upcoming shareholder vote on the MeridianBet Group acquisition, which could significantly impact the company's future. In light of this event, let's delve into some real-time data and InvestingPro Tips that may offer additional context for investors as they consider their position ahead of the meeting.
InvestingPro Data:
- Market Cap (Adjusted): 109.12M USD
- Revenue Growth for the last twelve months as of Q4 2023: 22.59%
- Price, Previous Close: 2.98 USD
InvestingPro Tips:
1. Analysts predict the company will be profitable this year, which could be a positive sign for shareholders considering the potential for growth following the proposed acquisition.
2. The stock has experienced a significant return over the last month, with a 27.9% increase, indicating a positive market sentiment that could be reflective of the company's strategic moves, including the potential MeridianBet Group acquisition.
These insights suggest that Golden Matrix Group Inc. is on a trajectory that could be buoyed by the successful integration of MeridianBet Group, should shareholders approve the acquisition. Additionally, it's worth noting that there are 14 additional InvestingPro Tips available for GMGI on https://www.investing.com/pro/GMGI, which could provide further depth for those looking to make an informed decision.
For those interested in a comprehensive analysis, use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription. This could be an opportune time to leverage these insights as Golden Matrix Group Inc. approaches a critical juncture in its corporate journey.
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