Matador Technologies Provides Corporate Update Highlighting Accelerated Bitcoin Accumulation and Strengthened Capital Position

Executive Summary

• Matador closed the first $10.5 M draw under its $100 M secured convertible note facility with ATW Partners and raised CAD 7.6 M in equity during Q2 2025, bolstering capital for further Bitcoin purchases.
• Bitcoin holdings grew from ~20 BTC at the qualifying transaction (Dec 10 2024) to ~175 BTC as of Nov 18 2025—a 767% increase—raising Bitcoin‑per‑share (BPS) to approximately 0.0000014 BTC.
• The company secured multiple new market listings (OTCQB, DTC/US ticker change, Frankfurt Stock Exchange) and filed a CAD 500 M base‑shelf prospectus, expanding its access to capital and investor reach.

Key Details

• Bitcoin Treasury Expansion
• QT (Dec 10 2024): ~20 BTC held.
• As of Nov 18 2025: ~175 BTC held (≈767% increase).

• BPS rose from ≈0.0000002 BTC/share to ≈0.0000014 BTC/share (+≈558%).

• Financing Activities

• First draw of USD 10.5 M under a $100 M secured convertible note facility with ATW Partners (closed Nov 10 2025).
• CAD 7.6 M raised in Q2 2025 via three private‑placement tranches, including a CAD 1.5 M investment by Arrington Capital on May 30 2025.

• Filed amended & restated CAD 500 M preliminary base‑shelf prospectus (Oct 8 2025) to permit equity/debt issuances over a 25‑month window.

• Market Listings & Regulatory Milestones

• OTCQB listing – March 18 2025.
• DTC eligibility and US ticker change to MATAF – April 28 2025.
• Frankfurt Stock Exchange listing – June 3 2025.
• Change of business to hybrid Technology/Investment issuer – July 2 2025.

• Draft Form 20‑F filed with SEC (Sept 29 2025) for potential Nasdaq listing (under review).

• Strategic Partnerships & Governance

• Joined MicroStrategy’s “Bitcoin for Corporations” initiative – Jan 10 2025.
• Appointed BitGo Trust as custodian for all Bitcoin reserves – Feb 10 2025.
• Formed Strategic Advisory Board (June 9 2025) with industry leaders David Bailey and David Forestell.

• Engaged third‑party IR/marketing firms: Alpha Nine Ventures, Outside The Box Capital, DroomDroom, Team Dyno.

• HODL Systems Investment

• Ongoing negotiations to invest up to a 24% stake in HODL Systems (India), pending regulatory and legal approvals.

Notable Quotes

• Deven Soni, CEO: “On November 10 2025, we completed the initial USD 10.5 M draw under our USD 100 M facility… We will evaluate additional allocations in light of Bitcoin’s price volatility, liquidity, and applicable approvals, with a focus on increasing Bitcoin per share over time.”
• Mark Moss, Chief Visionary Officer: “Bitcoin is a volatile asset with evolving adoption. Our approach is to manage the treasury with a long‑term view, hold assets in qualified custody at BitGo Trust, and deploy capital in measured steps.”