Golden Matrix Group, Inc. 8-K

What Happened
Golden Matrix Group, Inc. (GMGI) announced that its board approved a 1-for-12 reverse stock split of its common stock and a corporate name change to “Meridian Holdings Inc.” The changes are expected to become effective at 12:01 AM ET on March 3, 2026, and post-split shares are expected to begin trading on the Nasdaq Capital Market at the open on March 3, 2026 under the new ticker MRDN.

Key Details

• Reverse split ratio: 1-for-12; every 12 pre-split shares will convert into 1 post-split share.
• Outstanding shares: expected to drop from 151,692,749 to approximately 12.6 million post-split.
• Authorized shares: reduced from 300 million to 25 million.
• Trading changes: new ticker MRDN and new CUSIP 381098409; effective date/time 12:01 AM ET on March 3, 2026.
• No fractional shares will be issued; holders entitled to fractional amounts will receive a cash payment equal to the fraction times the closing Nasdaq price on the trading day before the Effective Time.
• Board approved the actions under Nevada law without requiring stockholder approval. The company said the split aims to meet Nasdaq minimum bid requirements (Rule 5550(a)(2)) and strengthen capital markets positioning.

Why It Matters
The reverse split will reduce the number of shares outstanding and raise the nominal share price, which is intended to ensure compliance with Nasdaq’s minimum bid rule and maintain the company’s listing. For investors, the split does not change their proportional ownership (aside from any cash paid for fractional shares) but will change the share count, per-share price, ticker symbol, and CUSIP, which can affect trading, liquidity, and how the company appears in portfolios and screens. The board acted without a stockholder vote under applicable Nevada law.