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Matador Technologies Inc. (MATAF) has entered into a binding letter of intent to invest up to USD$3.2 million in HODL Systems, an Indian technology company. The investment would provide Matador with up to 24.95% ownership stake through a share warrant structure. The first tranche is expected to close by July 10, 2025.
The partnership includes a licensing agreement for Matador to distribute its digital gold product and Ordinals technology in India. The strategic move targets India's significant gold market, where households hold over 25,000 tonnes of gold, combined with a young, tech-savvy population where 65% are under 35. The investment must be completed within 18 months, with share warrants convertible at a 1:1 ratio.
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