Document:

ex101.htm

GOLDEN MATRIX GROUP, INC. & DIRECT CAPITAL

GROUP, INC. CANCELLATION AND RELEASE AGREEMENT

THIS CANCELLATION AND RELEASE AGREEMENT (“Agreement”), is entered into this 25th day of May 2016, by and between Golden Matrix Group, Inc. (formerly known as Source Gold Corp.), (“GMGI”, “Company”), and Direct Capital Group, Inc. (“Direct”).

WHEREAS, GMGI currently owes One Million Five Hundred Thirty Three Thousand Five Hundred Thirty Four Dollars ($1,533,534) to Direct pursuant to numerous Convertible Notes, as described in attached Table as Schedule One.  The Convertible Notes have conversion features and carry interest rates from 8% to 22% per year.

WHEREAS, on or around February 22, 2016, GMGI entered into an Asset Purchase Agreement and a subsequent change of management took place.

WHEREAS, the Company is in the early stages of restructuring, changing the direction of the business the Company is engaged in, and moving the Company forward in a positive manner.

WHEREAS, the Board of Directors of the Company feels it to be in the best interest of the Company and the Shareholders to reduce the outstanding debt of the Company incurred by the previous management.

WHEREAS, on May 25, 2016, Direct Capital agreed to cancel all of the Convertible Notes listed on Schedule One and to release any remaining obligation the Company may have to Direct pursuant to those Convertible Notes in Schedule One.

WHEREAS, in exchange for the cancellation of the Debt listed on Schedule One, Golden Matrix Group, Inc., will return ownership of the Company’s mining claims held in the Company’s name.

THEREFORE, it is hereby agreed by both the Company, and Direct, that the outstanding Notes, principal and interest totaling $1,533,534, and owed to Direct pursuant to the Convertible Notes listed in Schedule One and attached to this Agreement, by the Company, shall be cancelled, and no further obligations of the Company, under the Notes listed in Schedule One, are contemplated.

FURTHER, it is agreed by both the Company and Direct that Direct shall release all future claims to subsequent conversions of the Notes listed on Schedule One, the Company will have no further obligation to Direct under those Convertible Notes and Direct shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Notes.

  

1

  

The undersigned do hereby acknowledge receipt, review, understanding and agreement with this Cancellation and Release Agreement.

/s/Anthony Goodman                                 May 26, 2016

_________________________________                                                                                      ______________________

Anthony Goodman, President                                                                                                             Date                      

Golden Matrix Group, Inc.

/s/Jon Fullenkamp                                         May 26, 2016

_________________________________                                                                                     _____________________

Jon Fullenkamp, President                                                                                                                     Date

Direct Capital Group, Inc.

 

  

2ex102.htm

GOLDEN MATRIX GROUP, INC. & RIDER CAPITAL, INC.

CANCELLATION AND RELEASE AGREEMENT

THIS CANCELLATION AND RELEASE AGREEMENT (“Agreement”), is entered into this 25th day of May 2016, by and between Golden Matrix Group, Inc. (formerly known as Source Gold Corp.), (“GMGI”, “Company”), and Rider Capital, Inc. (“Rider”).

WHEREAS, GMGI currently owes Eight Hundred Two Thousand Twelve Dollars ($802,012) to Rider pursuant to numerous Convertible Notes, as described below.  The Convertible Notes have conversion features and carry interest rates from 8% to 12% per year.

WHEREAS, on or around February 22, 2016, GMGI entered into an Asset Purchase Agreement and a subsequent change of management took place.

WHEREAS, the Company is in the early stages of restructuring, changing the direction of the business the Company is engaged in, and moving the Company forward in a positive manner.

WHEREAS, the Board of Directors of the Company feels it to be in the best interest of the Company and the Shareholders to reduce the outstanding debt of the Company incurred by the previous management.

WHEREAS, on May 25, 2016, Rider agreed to cancel all of the Convertible Notes listed on below and to release any remaining obligation the Company may have to Rider pursuant to those Convertible Notes listed below.

THEREFORE, it is hereby agreed by both the Company, and Rider, that the outstanding Notes, with principal and interest totaling $802,012, and owed to Rider pursuant to the Convertible Notes listed below, by the Company, shall be cancelled, and no further obligations of the Company, under the Notes listed below, are contemplated.

	
RIDER CAPITAL, INC

	
#

	
($) Amount

	
Origination Date

	
(%) Interest Rate

	
($) Total Principal & Interest

	
Rider Capital

	
53

	
150,000

	
11/1/15

	
12.00%

	
165,682

	
Rider Capital

	
54

	
75,000

	
11/1/15

	
12.00%

	
82,841

	
Rider Capital

	
55

	
75,000

	
11/1/15

	
12.00%

	
82,841

	
Rider Capital

	
56

	
75,000

	
11/1/15

	
12.00%

	
82,841

	
Rider Capital

	
57

	
140,000

	
11/1/15

	
12.00%

	
154,637

	
Rider Capital

	
62

	
150,000

	
11/1/15

	
8.00%

	
156,444

	
Rider Capital

	
67

	
75,000

	
1/31/16

	
8.00%

	
76,726

	
TOTAL

	  	  	  	  	
802,012

  

1

  

FURTHER, it is agreed by both the Company and Rider that Rider shall release all future claims to subsequent conversions of the Notes listed above, the Company will have no further obligation to Rider under those Convertible Notes, and Rider shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Notes.

The undersigned do hereby acknowledge receipt, review, understanding and agreement with this Cancellation and Release Agreement.

/s/Anthony Goodman                                   May 26, 2016                                          

_________________________________                                                                                      ______________________

Anthony Goodman, President                                                                                                               Date                      

Golden Matrix Group, Inc.

/s/Jon Fullenkamp                                   May 26, 2016 

_________________________________                                                                                     _____________________

Jon Fullenkamp, President                                                                                                                      Date

Rider Capital, Inc.

  

2ex103.htm

GOLDEN MATRIX GROUP, INC. & XPLORATION, INC.

CANCELLATION AND RELEASE AGREEMENT

THIS CANCELLATION AND RELEASE AGREEMENT (“Agreement”), is entered into this 25th day of May 2016, by and between Golden Matrix Group, Inc. (formerly known as Source Gold Corp.), (“GMGI”, “Company”), and Xploration, Inc. (“Xploration”).

WHEREAS, GMGI currently owes Three Hundred Thousand Six Hundred Fifty One ($300,651) to Xploration pursuant to the Convertible Notes described below.  The Convertible Notes have conversion features and carry interest rates from 8% to 12% per year.

WHEREAS, on or around February 22, 2016, GMGI entered into an Asset Purchase Agreement and a subsequent change of management took place.

WHEREAS, the Company is in the early stages of restructuring, changing the direction of the business the Company is engaged in, and moving the Company forward in a positive manner.

WHEREAS, the Board of Directors of the Company feels it to be in the best interest of the Company and the Shareholders to reduce the outstanding debt of the Company incurred by the previous management.

WHEREAS, on May 25, 2016, Xploration agreed to cancel all of the Convertible Notes listed below and to release any remaining obligation the Company may have to Xploration pursuant to those Convertible Notes listed below.

THEREFORE, it is hereby agreed by both the Company, and Xploration, that the outstanding Notes totaling $300,651 owed to Xploration and pursuant to the Convertible Notes listed below, by the Company, shall be cancelled, and no further obligations of the Company, under the Notes listed below, are contemplated.

	
XPLORATION

	
#

	
Amount

($)

	
Origination

Date

	
Interest Rate

	
($) Total Principal & Interest

	
Xploration

	
58

	
140,000

	
11/1/15

	
12.00%

	
154,637

	
Xploration

	
63

	
140,000

	
11/1/15

	
8.00%

	
146,014

	
TOTAL

	  	  	  	  	
300,651

FURTHER, it is agreed by both the Company and Xploration that Xploration shall release all future claims to subsequent conversions of the Notes listed above, the Company will have no further obligation to Xploration under those Convertible Notes and Xploration shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Notes.

  

1

  

 

 

The undersigned do hereby acknowledge receipt, review, understanding and agreement with this Cancellation and Release Agreement.

/s/Anthony Goodman                                  May 26, 2016

_________________________________                                                                                      ______________________

Anthony Goodman, President                                                                                                       Date                      

Golden Matrix Group, Inc.

/s/Jon Fullenkamp                                         May 26, 2016

_________________________________                                                                                     _____________________

Jon Fullenkamp, President                                                                                                              Date

Xploration, Inc.

 

  

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}]]