GMGI Golden Matrix Group Inc

Expanse Studios, a subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), today announced its triumphant participation in the SBC Summit Lisbon 2024, held from September 24-26 at the Feira Internacional de Lisboa. The event, which saw a record-breaking attendance of 25,000 industry professionals, served as a launchpad for Expanse Studios' latest innovations, catalyzing discussions with over 20 potential partners.

"Our presence at SBC Summit Lisbon 2024 has been nothing short of extraordinary," said Damjan Stamenkovic, CEO of Expanse Studios. "The unprecedented scale of this year's event in Lisbon provided an ideal backdrop for us to showcase our cutting-edge games and engage with key industry players. We're thrilled to report that our booth was a hub of activity, with more than 20 operators expressing keen interest in our offerings and engaging in promising talks about potential collaborations."

Expanse Studios exhibited in Hall 2, where the company introduced two game-changing titles that captivated attendees:

• "Beach Penalties" - Expanse Studios' first game specifically designed and launched for the social casino category, marking a significant milestone in the company's strategic expansion into the rapidly growing social gaming market. While Expanse's extensive portfolio has always been adaptable for social casino platforms, "Beach Penalties" represents the studio's first title tailored from the ground up for this segment.
• "Super Heli" - A high-octane crash game dubbed "the diamond of crash games" by the public, that generated incredible buzz among operators and players alike.

Both titles garnered substantial attention, reflecting the industry's growing appetite for innovative gaming content that pushes boundaries and engages players in new ways.

Stamenkovic added, "The enthusiastic reception of 'Beach Penalties' and 'Super Heli at SBC Summit Lisbon validates our strategic direction. By expanding into social gaming and elevating the crash game experience, we're not just growing our portfolio – we're opening new avenues for engagement and revenue in the iGaming space."

The level of interest shown by operators at the event underscores Expanse Studios' growing influence in the iGaming sector. With the number of talks and pending agreements, the company is optimistic about the prospects these discussions present for future growth and market expansion.

Expanse Studios continues to expand its diverse portfolio, which now includes over 50 games spanning slots, crash games, social casino games, and turn-based strategy games. The company's mobile-first approach and strategic partnerships with operators and aggregators position it for continued growth in the global iGaming market.

For more information about Expanse Studios and its game offerings, please visit www.expanse.studio or contact contact@expanse.studio.

About Golden Matrix Group

Golden Matrix Group, based in Las Vegas, NV, is a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across multiple international markets. The B2B division of Golden Matrix develops and licenses branded gaming platforms for its extensive list of clients, and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets.

About Expanse Studios

Founded in 2017, Expanse Studios is already a trailblazer in the online gaming industry. With a relentless focus on innovation, Expanse merges old-school motifs with state-of-the-art design in iGaming, captivating soundtracks, and immersive animations. The studio has developed an impressive array of more than 50 games, all tailored to offer a seamless mobile-first experience. Their strategic partnerships span across various operators and aggregators, making their games available in over 20 of the most widely spoken languages, catering to a diverse global audience. Expanse Studios is part of the Golden Matrix Group (Nasdaq: GMGI).

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FORWARD-LOOKING STATEMENTS

Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.

Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the ability of the Company to obtain the funding required to pay certain Meridianbet Group acquisition post-closing obligations, the terms of such funding, potential dilution caused thereby and/or covenants agreed to in connection therewith; potential lawsuits regarding the acquisition; dilution caused by the terms of the Note and Warrant, the Company’s ability to pay amounts due under the Note and covenants associated therewith and penalties which could be due under the Note and securities purchase agreement for failure to comply with the terms thereof; the business, economic and political conditions in the markets in which the Company operates; the effect on the Company and its operations of the ongoing Ukraine/Russia conflict and the conflict in Israel, changing interest rates and inflation, and risks of recessions; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company and/or its subsidiaries to obtain additional gaming licenses; the ability of the Company to manage growth; the Company’s ability to complete acquisitions and the availability of funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising, the conversion of outstanding preferred stock, convertible securities and/or acquisitions; the Company’s ability to maintain the listing of its common stock on the Nasdaq Capital Market; the Company’s expectations for future growth, revenues, and profitability; the Company’s expectations regarding future plans and timing thereof; the Company’s reliance on its management; the fact that the sellers of the Meridianbet Group hold voting control over the Company; related party relationships; the potential effect of economic downturns, recessions, increases in interest rates and inflation, and market conditions, decreases in discretionary spending and therefore demand for our products and services, and increases in the cost of capital, related thereto, among other affects thereof, on the Company’s operations and prospects; the Company’s ability to protect proprietary information; the ability of the Company to compete in its market; the effect of current and future regulation, the Company’s ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this press release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved.

Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly-filed reports, including, but not limited to, under the “Special Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended October 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended January 31, 2024, and future periodic reports on Form 10-K and Form 10‑Q. These reports are available at www.sec.gov.

Attachment

• Golden Matrix Group Inc,