Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed in the Current Report on Form 8-K filed by Golden Matrix Group, Inc. (the "Company", "we" and "us"), with the Securities and Exchange Commission (the "SEC") on December 2, 2025 (the "December 2025 Form 8-K"), on November 25, 2025, the Company entered into a Severance and Release Agreement (the "Severance Agreement") with its then Chief Executive Officer, Anthony Brian Goodman, pursuant to which the Company and Mr. Goodman mutually agreed to terminate Mr. Goodman's employment with the Company effective as of December 12, 2025, unless otherwise agreed between the parties, in consideration for a $951,750 severance payment, of which $537,327 (the "Escrowed Amount") was to be held in escrow (the "Escrow Agent").

On December 12, 2025, with the approval of Mr. Goodman and the Company, the Escrow Agent released $300,000 of the Escrowed Amount to Mr. Goodman and is expected to release the remaining $237,327 to Mr. Goodman shortly following the date of this report, and in connection therewith, Mr. Goodman resigned from the Company. As a result, effective as of December 12, 2025, (i) Mr. Goodman resigned as President, Chief Executive Officer, Principal Executive Officer, Secretary, Treasurer, and as a member of the Board of Directors of the Company and each of its subsidiaries, and (ii) the Severance Agreement has become irrevocable in accordance with its terms.

Additionally, as previously disclosed in the December 2025 Form 8-K, on November 25, 2025, the Company appointed Mr. William Scott, the Executive Chairman of the Board of Directors of the Company, as Interim Chief Executive Officer and Principal Executive Officer of the Company to take effect upon the resignation of Mr. Goodman, which as discussed above, was effective on December 12, 2025.

As a result, effective as of December 12, 2025, Mr. Scott has been appointed as Interim Chief Executive Officer and Principal Executive Officer of the Company. Additional information regarding Mr. Scott is included in the December 2025 Form 8-K, which information is incorporated by reference herein.

The Board has commenced a process to identify and evaluate potential candidates to fill the vacancy on the Board created by the independent director vacancy created by Mr. Scott's appointment as Interim Chief Executive Officer. The Company intends to appoint a successor independent director as soon as practicable, in accordance with the Company's bylaws and applicable law.