Matador Technologies Receives Conditional Approval for Change of Business

Key Highlights

• TSX Venture Exchange grants conditional approval for Matador’s Change of Business (“COB”) to a hybrid “Technology / Investment” issuer, subject to the Company satisfying the TSXV's requirements and conditions.

• Enables Matador to operate as a pure Bitcoin Ecosystem Company with a focus on holding, acquiring, and investing in Bitcoin and digital asset ventures, assuming that the Company obtains TSXV final approval of the COB.

• Unlocks ability to scale Bitcoin treasury strategy, deploy capital into the Bitcoin ecosystem, and expand globally, assuming that the Company obtains TSXV final approval of the COB and obtains TSXV approval to expand globally.

• Positions Matador to proceed with its proposed investment in HODL Systems, one of India’s first digital asset treasury companies, assuming that the Company obtains TSXV conditional approval with respect to this investment.

TORONTO, June 23, 2025 (GLOBE NEWSWIRE) -- Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF, FSE: IU3), is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the “TSXV”) to complete its previously announced Change of Business (“COB”) to a hybrid “Technology / Investment” issuer, as defined under TSXV policies, subject to the Company satisfying TSXV requirements and conditions. The Company expects to close the COB on or about July 4, 2025.

Assuming that the Company satisfies TSXV requirements and conditions respecting the COB, Matador will be able to expand its business model to include activities consistent with its investment policy and TSXV regulations, including the acquisition and management of Bitcoin and investments in Bitcoin-related technologies and infrastructure. The new structure provides the Company with greater operational flexibility within the digital asset sector. “This marks an important milestone on our journey,” said Deven Soni, Chief Executive Officer of Matador Technologies. “With conditional approval in place, we are one step closer to advancing our Bitcoin treasury strategy and supporting Bitcoin-native innovation globally—subject to final TSXV approval.”