Matador Technologies Receives Final Approval for Change of Business – Clearing the Way for Bitcoin Ecosystem Strategy

Key Highlights

The TSX Venture Exchange grants final approval for Matador’s Change of Business (“COB”) to a hybrid “Technology / Investment” issuer
Matador now operates as a Bitcoin Ecosystem Company with the ability to hold, acquire, and invest in Bitcoin and Bitcoin-native ventures
The Company now holds 77.4 Bitcoin and Bitcoin equivalents, following latest purchase of 8.4 BTC for CAD$1.2 million
Fully authorized to pursue strategic investments, including its proposed 24% ownership stake in Indian digital asset firm HODL Systems, subject to TSXV approval
Diversified and Bitcoin-focused balance sheet, includes holdings of Bitcoin, cash reserves, and physical gold
Supported by a seasoned Strategic Advisory Board, including David Bailey and Dave Forestell

TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF, FSE: IU3), the Bitcoin Ecosystem Company, is pleased to announce that it has received final approval from the TSX Venture Exchange (“TSXV”) to complete its previously announced Change of Business (“COB”) to a hybrid “Technology / Investment” issuer in accordance with TSXV Policy 5.2.

This milestone marks the beginning of a new chapter for Matador, one that positions the Company to operate with maximum flexibility in the growing Bitcoin economy. The Company can now execute its strategy in full—scaling its Bitcoin holdings, building within the Bitcoin ecosystem, and expanding globally with a platform model purpose-built for the digital asset era. “This structure provides us with the regulatory flexibility to execute our business objectives,” said Deven Soni, CEO of Matador Technologies. “That includes holding Bitcoin, investing in infrastructure built on Bitcoin, and supporting the development of related digital asset technologies.”

On June 24 and 25, 2025, shareholders of the Company holding an aggregate of 52,967,853 common shares (representing 51.5% of the 105,935,705 issued and outstanding common shares of the Company), approved the COB via written consent.

Advancing a Bitcoin Ecosystem Strategy

With final approval secured, Matador now operates as a Bitcoin Ecosystem Company—a public entity structured to pursue opportunities across Bitcoin treasury management, infrastructure, and financial product innovation.

Bitcoin: As of July 2, 2025, Matador holds 77.4 Bitcoin and Bitcoin equivalents, including its most recent acquisition of 8.4 BTC for CAD$1.2 million.
Cash: The Company maintains a disciplined capital base of approximately $5.3 million to support opportunistic growth and investments.
Gold: Matador holds 2 kilograms of physical gold (approximately CAD$323,000) for use in its Digital Gold Platform.
India: Matador has entered into an agreement to acquire up to a 24% equity stake in HODL Systems, a digital asset firm pioneering the digital asset treasury model in India—a market with significant growth in technology infrastructure and digital financial services, subject to TSXV approval.

This Bitcoin-centered balance sheet reflects Matador’s core thesis: that sound money infrastructure is the foundation for the next generation of financial services. The Company intends to scale its holdings and deploy capital into Bitcoin-native technologies and markets that align with this vision.

With final TSXV approval now received, Matador is fully authorized to:

Advance our Bitcoin accumulation strategy, applying a structured approach as a public issuer;
Make equity investments in Bitcoin-focused businesses and technologies, including custody, mining, tokenization, and related infrastructure, subject to TSXV approval;
Continue development of our Digital Gold platform, starting with the “Grammies” product line, which links physical gold to inscriptions on the Bitcoin blockchain;
Deploy capital in strategic international markets, including India, which has a large base of retail investors and strong demand for both digital and traditional asset classes, subject to TSXV approval;
Monetize our balance sheet, through synthetic mining and yield generation.

A filing statement dated June 20, 2025 related to the Change of Business has been posted on SEDAR+ under the Company's profile at www.sedarplus.ca.

India as a Strategic Launchpad

Final TSXV approval for the Change of Business also enables Matador to advance its proposed strategic investment in HODL Systems ("HODL"), a digital asset firm based in India. Through a share warrant structure, Matador has the ability to acquire up to 6,069,746 share purchase warrants (the "Warrants") representing up to a 24% ownership stake in HODL upon exercise, subject to TSXV approval. The consideration for the Warrants consists of up to INR 24,20,61,470.48, or approximately CAD$3,872,983.52 based on the exchange rate published by the Bank of Canada on June 27 2025 of INR 62.50 = CAD$1.00. An aggregate of 25% of this aggregate consideration is payable upon the issuance of the Warrants and the balance is payable upon exercise of the Warrants (with no additional exercise price payable). The Warrants will expire on the date which is 18 months following the date of issuance thereof.

This investment marks Matador’s entry into one of the world’s most dynamic markets for technology, digital assets, and gold. With a median age under 30, over 190 million brokerage accounts in the country (growing at over 3 million per month), strong mobile penetration, and deep-rooted gold ownership, India represents a natural fit for Matador’s Digital Gold platform and broader Bitcoin ecosystem strategy.

“We believe HODL Systems is well-positioned to pursue a digital asset treasury strategy in a high-growth environment,” said Mark Moss, Chief Visionary Officer of Matador. “India’s scale, growing investor base, and interest in financial innovation make it an attractive market for this approach.”

Building a Global Bitcoin Ecosystem Company

Matador has observed a growing trend of public companies exploring the integration of Bitcoin and digital assets into their business models. These developments illustrate how regulated issuers can align themselves with evolving financial infrastructure while operating within established capital market frameworks.

Matador sees similar dynamics taking shape in other markets—particularly India—where inflation concerns, increasing openness to alternative assets, and improving regulatory clarity are driving renewed interest in Bitcoin. India’s strong technology base, rapidly expanding capital markets, and mobile-first population offer fertile ground for companies operating on Bitcoin-native rails.

With its Change of Business now approved, Matador is positioned to pursue a similar approach—deploying capital, building infrastructure, and scaling treasury-backed strategies in jurisdictions where Bitcoin can thrive as a foundation for financial innovation. “This approval allows us to move from vision to execution,” said Deven Soni, CEO of Matador Technologies. “With the Change of Business now complete, we can begin implementing our business plan, which includes allocating capital toward initiatives aligned with our long-term focus on digital asset infrastructure.”

Scaling a Bitcoin Treasury Platform

With final approval secured, Matador is actively executing its strategy: growing its Bitcoin treasury, making targeted investments in infrastructure, and expanding into high-potential markets like India. The Company is focused on opportunities across custody, synthetic mining, tokenization, and decentralized platforms—core components of the emerging Bitcoin financial ecosystem.

This execution is backed by a seasoned leadership team and a Strategic Advisory Board that includes industry veterans such as David Bailey and Dave Forestell. Their deep experience across Bitcoin, public markets, and global regulatory environments provides Matador with a strong foundation for responsible growth and long-term success.

Management

Matador is also pleased to announce that the current Vice-President of Finance of Matador, Geoff St. Clair, will continue to serve in the same capacity following completion of the COB.

Mr. St. Clair, age 31, is an experienced executive with prior experience finance, M&A and corporate development. Mr. St. Clair is Vice President at Hillcrest Merchant Partners Inc., where he supports the firm on all financing and M&A transactions. With a strong background in M&A, reverse-takeover transactions, initial public offerings, and treasury management, Mr. St. Clair has developed extensive operational and transaction experience in both traditional finance and the emerging, high-growth markets. Mr. St. Clair has spent his career in emerging and highly regulated industries, driving growth through business development projects and overseeing financial operations including strategic financial planning, budgeting, forecasting, and risk management. Mr. St. Clair will be a contractor for Matador and expects to devote a majority of his time to performing the work required in connection with acting as an officer of Matador. Mr. St. Clair has a CFA, and a Bachelor of Commerce from Dalhousie University, majoring in finance and minoring in entrepreneurship. Mr. St Clair has not entered into any non-competition or non-disclosure agreement with Matador.

For additional information, please contact:

Media Contact:
Sunny Ray
President
Email: sunny@matador.network

Phone: 647-496-6282

About Matador Technologies Inc.
Matador Technologies Inc. (TSXV: MATA, OTCQB: MATAF, FSE: IU3) is a publicly traded Bitcoin ecosystem company focused on holding Bitcoin as its primary treasury asset and building products to enhance the Bitcoin network. Matador’s strategy combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, with a focus on driving long-term shareholder value while maintaining capital efficiency.

Matador has recently proposed to expand its global footprint by entering into an agreement to invest in HODL Systems, one of India’s first digital asset treasury companies, securing up to a 24% ownership stake. This investment strengthens Matador’s position as a leading Bitcoin treasury company and underscores its commitment to the worldwide adoption of Bitcoin as a reserve asset. The investment remains subject to the approval of the TSXV.

With a Bitcoin-first strategy, and a clear focus on innovation, Matador is shaping the future of financial infrastructure on Bitcoin.

Visit us online at https://www.matador.network/.

Cautionary Statement Regarding Forward-Looking Information

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company's treasury management strategy, receipt of regulatory approvals including TSXV approval for the Company's proposed investment in HODL Systems, and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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