Golden Matrix Group Announces Reverse Stock Split and Name Change to Meridian Holdings

Golden Matrix Group, Inc. (NASDAQ:GMGI) announced its board of directors has approved a 1-for-12 reverse stock split of its common stock and a name change to Meridian Holdings Inc. The reverse stock split is expected to raise the nominal price of GMGI shares to ensure compliance with Nasdaq Listing Rule 5550(a)(2) minimum bid requirements and strengthen the company's capital markets positioning.

Chief Financial Officer Rich Christensen stated the reverse stock split represents strategic capital structure optimization that aligns GMGI with best practices for public companies and gaming industry standards. "By consolidating our shares, we are bringing our capital structure in line with companies of our scale and revenue profile, while seeking to position GMGI to benefit from broader access to the capital markets," Christensen said. The company expects the reverse stock split will address Nasdaq minimum bid requirements, allowing the team to focus on executing growth strategy and delivering value through core gaming operations.

The reverse stock split, name change and related symbol change to "MRDN" are expected to become effective at 12:01 AM ET on March 3, 2026. Shares are expected to begin trading on a post-split, post-name change basis on the Nasdaq Capital Market at the open of trading on March 3, 2026, under ticker "MRDN" with new CUSIP number 381098409.

As a result of the reverse stock split, every twelve shares of common stock outstanding will be reclassified into one new share. This will reduce issued and outstanding shares from 151,692,749 to 12,641,062 and authorized shares from 300,000,000 to 25,000,000. The reverse stock split was approved by the board of directors without stockholder approval pursuant to Nevada Revised Statutes. The company will file a Certificate of Change Pursuant to NRS 78.209 to implement the reverse stock split and a Certificate of Amendment for the name change.

Proportionate adjustments will be made to shares underlying outstanding equity awards, equity incentive plans and existing agreements including warrants, as well as exercise prices and strike prices. The reverse stock split has no effect on par value of common stock or authorized shares of any class. It will affect all stockholders uniformly without altering percentage interest in company equity, except where stockholders receive cash in lieu of fractional shares. No fractional shares will be issued, with holders receiving cash payments equal to the fraction multiplied by the closing price per share on Nasdaq the trading day prior to effectiveness.

VStock Transfer LLC is acting as transfer and exchange agent. Stockholders owning shares via brokers, banks, trusts or other nominee organizations will have positions automatically adjusted subject to organizational processes. Registered stockholders with book-entry shares need take no action, while those with certificated shares should contact Equiniti for instructions. Additional information about the reverse stock split can be found in the company's Current Report on Form 8-K planned for filing with the Securities and Exchange Commission on March 3, 2026, available on the SEC's website at https://www.sec.gov and in the Investors section of the company's website at https://goldenmatrix.com/investor.