Golden Matrix Group, Inc.

Golden Matrix Group, Inc. Transforms into Meridian Holdings Inc. (MRDN) – A Strategic Shift

Golden Matrix Group, Inc. (GMGI) is set to embark on a major corporate transformation, rebranding as Meridian Holdings Inc. (MRDN) and executing a 1-for-12 reverse stock split. These strategic changes aim to strengthen the company's market position and reflect its evolving direction, especially after its significant acquisition of Meridianbet Group.

Event Description

1. 1-for-12 Reverse Stock Split: For every 12 shares of GMGI stock an investor owns, they will now hold 1 share. While the number of shares decreases, the company expects the price per share to increase proportionally, maintaining the total value of your investment immediately after the split. This action will significantly reduce total outstanding shares from approximately 151.7 million to roughly 12.6 million. The company also reduced its authorized shares from 300 million to 25 million, limiting potential future dilution. Nevada state law permitted the Board of Directors to approve this change without a shareholder vote.
2. Name and Ticker Change: Golden Matrix Group, Inc. will officially become Meridian Holdings Inc. Its stock ticker symbol will change from GMGI to MRDN.

Event Date/Timeline

The company's Board of Directors approved these changes on February 26, 2026. Both the reverse stock split and the name change become effective at 12:01 AM ET on March 3, 2026. Shares will begin trading under the new name, Meridian Holdings Inc., and the new ticker symbol, MRDN, on the Nasdaq Capital Market at the open of trading on March 3, 2026. The company will also assign a new CUSIP number (381098409). It plans to file a Current Report on Form 8-K with the SEC on March 3, 2026, providing official details.

Impact Assessment

These actions are driven by several strategic objectives:

• NASDAQ Listing Compliance: The primary reason for the reverse stock split is to increase the stock's per-share price to meet Nasdaq's minimum bid price requirement (typically $1.00 per share). Maintaining this compliance is crucial for the company's visibility and access to capital markets, preventing potential delisting.
• Enhanced Capital Markets Positioning: A higher stock price can make the company more attractive to a broader range of institutional investors who often have policies against investing in lower-priced stocks. CFO Rich Christensen noted this as a "strategic capital structure optimization" to align with "best practices for public companies" and facilitate "broader access to the capital markets."
• Reflecting Strategic Evolution and Growth: The name change to Meridian Holdings Inc. directly reflects the company's significant strategic shift and growth trajectory. It highlights the successful acquisition of Meridianbet Group, a major online sports betting and gaming operator with a strong presence in Europe, Africa, and South America. This new identity better represents the company's expanded business as an established B2B and B2C gaming technology company, which also includes its own RKings Competitions and MEXPLAY casino platforms. This rebranding signals a fresh start, clearly focusing on its core gaming operations and global expansion.
• Focus on Business Execution: By addressing the Nasdaq compliance issue, management aims to dedicate its full attention to executing its growth strategy and delivering value to shareholders through its diversified gaming businesses.

Financial Impact

• Share Count & Value: Investors will own 1/12th the number of shares, but the total market value of their investment should remain unchanged immediately after the split, as the price per share is expected to increase proportionally.
• Fractional Shares: If the split results in an investor owning a fraction of a share, the company will pay cash for that fractional amount, based on the closing price of the stock on Nasdaq the day before the split.
• Equity Awards and Warrants: The company will proportionally adjust the number of shares and exercise prices for stock options, restricted stock units, and warrants to reflect the reverse stock split.
• Outstanding and Authorized Shares: The split will reduce total outstanding shares from approximately 151.7 million to roughly 12.6 million. The company also reduced its authorized shares from 300 million to 25 million, which limits potential future dilution.
• Capital Market Access: The reverse stock split aims to increase the per-share price to meet Nasdaq's minimum bid price requirement, which is crucial for maintaining the company's listing, visibility, and access to capital markets.

Key Takeaways for Investors

• Share Structure Adjustment: Your share count will decrease by a 1-for-12 ratio, but the immediate total value of your investment should remain the same.
• Cash for Fractional Shares: Any fractional shares resulting from the split will be paid out in cash.
• New Identity: The company adopts the new name "Meridian Holdings Inc." and ticker "MRDN," reflecting its strategic evolution and the Meridianbet acquisition.
• Strategic Rationale: These changes primarily aim to meet Nasdaq listing requirements and enhance the company's position in capital markets.
• Risks to Consider: Reverse stock splits can carry a negative market perception, and there is no guarantee that the stock price will sustain its post-split level. The stock may continue to experience volatility.

What's Next?

On March 3, 2026, your brokerage account will reflect the new share count and price under the new ticker symbol "MRDN."

Important Note: This summary is for informational purposes only and should not be considered financial advice. Investors should conduct their own thorough research and consult with a financial advisor before making any investment decisions.