Golden Matrix Group, Inc. entered into a Software License Agreement with Elray Resources Inc. Mr. Anthony Brian Goodman, Chief Executive Officer, President, Secretary, Treasurer and Chairman of the Company and Weiting ‘Cathy' Feng, Chief Operating Officer and director of the Company, currently serve as Chief Executive Officer, President, Chief Financial Officer, Secretary and Director (Goodman) and Treasurer and Director (Feng) of Elray. Elray operates, manages, and maintains a blockchain online gaming operation and provides blockchain currency technology to licensed casino operators. Pursuant to the License Agreement, which was effective as of December 1, 2022, the Company granted Elray a non-exclusive, non-licensable, non-sublicensable, non-assignable and non-transferable license for the use and further distribution of certain of the Company's online games (as such games may be expanded from time to time), subject to certain exceptions, and in certain approved territories where the Company or Elray holds required licenses and/or certifications, which list of approved territories may be updated from time to time.

The license provides Elray the right to use the online games solely for the purpose of running an online blockchain casino enterprise. The License Agreement also includes a right of first refusal for the Company to provide certain branded gaming content to Elray during the term of the agreement.