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.

Effective on September 9, 2024, Mr. Omar Jimenez and Golden Matrix Group, Inc. (the "Company", "we" and "us") agreed to mutually terminate the services of Mr. Jimenez as Chief Financial Officer (Principal Financial/Accounting Officer) and Chief Compliance Officer of the Company, effective the same date, and entered into a Separation and Release Agreement (the "Separation Agreement").

Under the Separation Agreement, the Company agreed to pay Mr. Jimenez (a) $50,000; and (b) reimburse Mr. Jimenez for $1,025 of prior business expenses (collectively, (a) and (b), the "Severance Payment"). The Severance Payment is required to be paid within 10 days of the parties entry into the Separation Agreement. Under the Separation Agreement, Mr. Jimenez provided a customary general release to the Company, the Company provided a release to Mr. Jimenez, subject to certain exceptions, and Mr. Jimenez also agreed to certain confidentiality, non-disclosure, non-solicitation, non-disparagement, and cooperation covenants in favor of the Company.

The foregoing summary of the Separation Agreement is a summary only and is qualified in its entirety by reference to the Separation Agreement, a copy of which is attached as Exhibit 10.1to this Current Report on Form 8-K and is incorporated into this Item 5.02by reference in its entirety.

On September 9, 2024, and effective on September 9, 2024, the Board of Directors appointed Weiting 'Cathy' Feng, the Company's Chief Operating Officer and director, as Chief Financial Officer (Principal Accounting/Financial Officer) of the Company, to fill the vacancy left by Mr. Jimenez's departure. Ms. Feng's biographical information is set forth in the Definitive Proxy Statement on Schedule 14A filed by the Company with the Securities and Exchange Commission on August 30, 2024 (the "Proxy Statement"), under the heading "Board of Directors-Director Nominees", and is incorporated by reference herein. Ms. Feng is also party to an Employment Agreement with the Company, which is described in greater detail in the Proxy Statement under the heading "Executive Compensation-Employment and Consulting Agreements-Employment Agreement with Ms. Weiting 'Cathy' Feng", and is incorporated by reference herein.

There are no arrangements or understandings between Ms. Feng and any other person pursuant to which Ms. Feng was selected to serve as an officer of the Company, nor is Ms. Feng a party to any material plan, contract or arrangement (whether or not written) with the Company or a participant in any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K, other than the Employment Agreement (discussed above), and except as discussed in the Proxy Statement under "Certain Relationships and Related Transactions". There are no family relationships between any director or executive officer of the Company, including Ms. Feng.