Golden Matrix Group Inc. announced that its Board of Directors has authorized the repurchase of up to $3 million of the company's common stock, with the program scheduled to expire on December 15, 2026, unless extended or discontinued earlier by the board. This announcement carries significant implications for investors and market observers, as stock repurchase programs typically signal management's confidence in the company's future prospects and current valuation. Chief Financial Officer Rich Christensen stated the company believes its shares are trading at a significant discount to intrinsic value, making the repurchase a disciplined and highly attractive use of capital.
The company emphasized that the buyback provides a more tax-efficient method of returning capital compared to dividends while driving earnings-per-share accretion. According to the announcement, the program underscores management's conviction in the company's future performance. Christensen noted that by reducing market overhang, addressing short interest, and repurchasing shares at current price levels, the company is confident this initiative will enhance long-term shareholder returns. This strategic move is particularly noteworthy given the company's position in the competitive online gaming and eCommerce sector.
Under the program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates. Repurchases will be made at management's discretion when prices are considered attractive and in the best interests of both the company and its stockholders. The timing and amount of share repurchases will depend on various factors including market conditions, trading price, alternative uses for capital, and the company's financial performance. This flexibility allows the company to optimize the program's execution based on evolving circumstances.
Open market purchases are expected to be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities Exchange Act of 1934. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the company might otherwise be precluded from doing so under insider trading laws. The program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. The program does not obligate the company to purchase any specific number of shares, and there is no guarantee as to the exact number or value of shares that will be repurchased.
The program is expected to be funded using the company's working capital. As of September 30, 2025, the company had 140,660,454 shares of common stock issued and outstanding. All shares purchased under the stock repurchase program will be retired and returned to treasury. Golden Matrix Group operates as an international developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content. The company's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, are available at https://www.sec.gov. This repurchase program represents a strategic capital allocation decision that reflects management's assessment of the company's valuation relative to its growth prospects in the expanding online gaming market.
