Golden Matrix Group, Inc. announced a private placement that it will issue Deferred Cash Convertible Promissory Note for the principal amount of $3,000,000 on June 17, 2024. The convertible note does not accrue interest unless an event of default thereunder occurs and upon an event of default accrues interest at 12% per annum. The full amount of the Convertible Note is due and payable on December 17, 2025, unless earlier paid.

Milovanovic has the right, from time to time, to declare up to $2 million of the principal amount of the Convertible Note to be due and payable, prior to January 1, 2025, upon written notice to the Company, after which the Company has three days to pay such amount.