Golden Matrix Group Inc. (NASDAQ:GMGI) announced the authorization of a stock repurchase program of up to $3.0 million of common stock.
The repurchase program aims to enhance long-term shareholder returns by addressing market overhang and short interest.
Shares may be repurchased through open market transactions or negotiated deals in accordance with federal securities laws.
Authorization of Stock Repurchase Program
The Board of Directors authorized the repurchase of up to $3.0 million of common stock to enhance shareholder returns.
Method of Repurchase
Shares may be bought back through open market transactions or negotiated deals at attractive prices.
Positive Impact on Shareholders
The program aims to reduce market overhang, address short interest, and provide a tax-efficient capital return method.
- The announcement reflects the Company's belief in its stock's undervaluation and its commitment to enhancing shareholder value.
- The repurchase program aligns with the Company's strategy to use capital effectively and improve earnings-per-share accretion.
Golden Matrix Group's stock repurchase program underscores its commitment to enhancing shareholder value and confidence in the company's future performance.