Golden Matrix Group Inc. (OTCMKTS:GMGID) Files An 8-K Other EventsITEM 8.01 OTHER EVENTS
Entry into Settlement Agreement with Luxor Capital LLC
Effective September 10, 2018, Golden Matrix Corp. Inc., a Nevada corporation (the “Company”) entered into Settlement Agreement and Mutual General Release (the “Settlement Agreement”) with Luxor Capital LLC (“Luxor”) whereby the parties agreed to release each other from any, and all liabilities relating to the Convertible Promissory Note issued by the Company in favor of Luxor which was dated March 1, 2016 (the “Note”) and in the original principal amount of $2,874,712.
to the Settlement Agreement, the Company agreed to pay out the remaining balance of the said note totaling $649,414 by converting $209,414 Dollars into common stock at a conversion price $0.001, by making a payment of $150,000 and by entering into an interest free loan for the balance of $290,000, such loan to be repaid in two equal installments of $145,000 on the 10th September 2019 and 10th September 2020.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS
Golden Matrix Group, Inc. Exhibit…To view the full exhibit click here
About Golden Matrix Group Inc. (OTCMKTS:GMGID)
Golden Matrix Group, Inc. (GMGI), formerly Source Gold Corp., is engaged in providing social gaming technology. The Company’s business is focused on software technology. The Company has built a social gaming casino under the brand name, Lucky Panda 888. The Company owns social gaming intellectual property (IP) and builds white labeled social gaming platforms. The social gaming IP includes tools for acquisition, retention and monetization of users. The Company’s platform is unparalleled in both desktop and mobile applications. Its user management is optimized to accommodate both free and cost to play state of the art games. The Company has launched its iPhone application with multiple social casino games. GMGI’s social gaming software supports multiple languages, including English and Chinese. The Company has a global presence with offices in Las Vegas Nevada and Sydney Australia.
