Business
Matador Announces Proposed Change of Business to Technology/Investment Issuer
TORONTO, May 05, 2025 (GLOBE NEWSWIRE) -- Matador Technologies Inc. (“Matador” or t...
About this update from Matador Technologies Inc.
[{"type":"text","content":"Matador Announces Proposed Change of Business to Technology/Investment Issuer\n\n\n\n TORONTO, May 05, 2025 (GLOBE NEWSWIRE) -- Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB:MTDTF), a Bitcoin Ecosystem company, is pleased to announce that it is proposing a change of business from a Tier 2 Technology Issuer to a Tier 2 Technology/Investment Issuer (the \"Proposed COB\") within the meaning of such terms in the policies of the TSX Venture Exchange (the \"Exchange\" or \"TSXV\").\n \n\n\n\n Summary of the Proposed COB\n \n\n\n\n On December 9, 2024, the Company completed its \"qualifying transaction\" in accordance with TSXV Policy 2.4, which was effected through a reverse takeover structured as a court approved plan of arrangement under Section 182 of the\n \n Business Corporations Act\n \n (Ontario) (the “Arrangement”) on the terms and conditions set out in the merger agreement dated October 16, 2024 among the Company and Matador Gold Technologies Inc. (\"\n \n Matador Gold\n \n \"). Upon completion of the Arrangement, the business of the Company was focused on combining the best of modern technology and time-proven assets to create an app that would allow users to buy, sell, and store gold 24/7, with the added security and flexibility of a mobile application.\n \n\n Since this time, the Company’s management team and Board of Directors (the “Board) has approved the incorporation of the Bitcoin network into its gold product and also authorized the purchase of Bitcoin to diversify the Company’s treasury.\n \n\n In addition to its current focus areas, Matador’s proposed investment policy would allow for broad flexibility to incorporate a wide range of future investments aligned with its mission to advance the Bitcoin ecosystem and build long-term shareholder value. These future investments may include, but are not limited to:\n \n\n\n Additional acquisitions of Bitcoin to bolster the Company’s treasury; and,\n \n\n Digital assets, cryptocurrencies, and blockchain-native assets on top of the Bitcoin network (other blockchains); and,\n \n\n Investment in tokenized real-world assets, digital collectibles, non-fungible tokens (NFTs), on both the Bitcoin network and possibly other blockchains; and,\n \n\n Bitcoin-based assets...