Golden Matrix Group Inc (GMGI)

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Approx 9m float: Golden Matrix Authorizes 1-for-150 Reverse Stock Split

LAS VEGAS, April 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- The board of directors of Golden Matrix Group Inc. (OTC: GMGI), a developer and licenser of social gaming platforms, systems and gaming content, today announced it has authorized a reverse split of both its outstanding and authorized shares of common stock.

The effective date for the reverse split will be determined by the Financial Industry Regulatory Authority (FINRA). On the effective date, every 150 shares of issued and outstanding common stock will be automatically exchanged for one issued and outstanding share of common stock, resulting in about 19 million shares post-split. The authorized shares of common stock will also be reversed at the same ratio and be reduced to 40 million shares from 6 billion shares.