Golden Matrix Group, Inc. Executes 1-for-12 Reverse Stock Split and Changes Name to Meridian Holdings Inc.

LAS VEGAS, March 3, 2026 — Golden Matrix Group, Inc. (formerly NASDAQ: GMGI), a Nevada-based company in the prepackaged software and online gaming sector, has announced two significant corporate actions that are highly relevant to investors and shareholders:

• 1. Reverse Stock Split (1-for-12): The company has effected a 1-for-12 reverse stock split of its authorized, issued, and outstanding common stock, reducing both the number of authorized shares from 300 million to 25 million and issued and outstanding shares from approximately 151.7 million to 12.6 million.
• 2. Name Change: Concurrently, the company has changed its corporate name to Meridian Holdings Inc. The new trading symbol on NASDAQ is MRDN, effective March 3, 2026, and the new CUSIP number for its common stock is 381098409.

Key Details of the Corporate Actions

• Effective Date: Both the reverse split and name change became effective on March 3, 2026, at 12:01 a.m. ET.
• Reason for the Reverse Split: The main purpose is to regain compliance with NASDAQ’s \$1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company received a deficiency notice from NASDAQ on December 31, 2025, for trading below this threshold for 30 consecutive business days. The reverse split is expected to boost the share price above \$1.00 well before the compliance deadline of June 30, 2026.
• Reason for the Name Change: The new name, Meridian Holdings Inc., is meant to reflect the company’s primary status as a holding company for MeridianBet Group, a major operator in the sports betting and gaming industry across more than 15 markets in Europe, Central and South America, and Africa.

Implications for Shareholders

• Trading and Identification: As of the effective date, shares will be traded on a reverse split-adjusted basis under the new symbol MRDN. The CUSIP change will impact how shares are identified and transferred.
• Fractional Shares: No fractional shares will be issued. Shareholders who would otherwise receive a fractional share will instead receive a cash payment based on the closing price of the common stock on the trading day immediately prior to the split.
• Preferred Stock: There is no change to the par value or number of authorized or outstanding preferred shares. However, conversion ratios for preferred stock will be adjusted proportionally (1-for-12) in line with the reverse split.
• Stock Options, Warrants, and Equity Awards: All equity-based instruments such as stock options, warrants, and awards are adjusted proportionally, with exercise prices increased in inverse proportion to the split, ensuring the overall value and economic impact to holders remain substantially unchanged.
• Shareholder Ownership and Voting Power: Each shareholder’s percentage ownership and voting rights will remain virtually the same, except for de minimis adjustments due to cash-in-lieu payments for fractional shares.

Administrative Information

• Exchange and Transfer Agent: VStock Transfer, LLC will manage the share adjustments. Book-entry (electronic) positions will be automatically adjusted. Holders of shares in street name will receive instructions from their brokers or custodians.
• Stockholder Approval: Under Nevada law, neither the reverse split nor the name change required shareholder approval, as the Board of Directors acted within the powers granted by state statutes. No dissenter’s rights are triggered by these changes.
• Registration Statements: The company’s existing S-3 and S-8 registration statements will be automatically amended to reflect the reduced number of shares as a result of the reverse split.

Potential Impact on Share Price

• The reverse split is intended to significantly increase the per-share trading price, allowing the company to maintain its NASDAQ listing—a critical factor for liquidity, investor confidence, and institutional participation.
• The name change signals a strategic focus on the global growth of MeridianBet, potentially enhancing the company’s brand recognition and appeal in the gaming sector.

Action Items for Shareholders

• Shareholders should check with their brokers or custodians regarding the exchange of old share certificates for new ones, if they hold physical certificates.
• Those with equity-based incentives (stock options, awards, or warrants) should review their updated holdings and exercise prices.
• Investors should be aware of the potential for short-term volatility as the stock adjusts to the new trading range and symbol.

Conclusion

The 1-for-12 reverse stock split and rebranding to Meridian Holdings Inc. are material events for the company and its shareholders. These actions are designed to preserve NASDAQ listing status and better align the corporate identity with its core business in international sports betting and gaming. Both moves are likely to influence the stock’s trading dynamics and investor perception in the near term.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult their financial advisors before making investment decisions. The author and publisher are not responsible for any actions taken based on the information provided herein.

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