Royalty Acquisition
- Trident has a 50/50 JV with Sonoroy Holdings Limited
- Sonoroy agreed to acquire a 3.0% GRR over Sonora Lithium Project in Mexico
- Trident to receive 1.5% GRR
Loan Repayment
- Trident has agreed to extend its loan repayment date
- Long stop date now extended to the earlier of
- 31 December 2026
- Completion of the transaction
Ongoing Litigation
- The Royalty is subject to litigation:
- Between the Estate of Colin Orr-Ewing and Bacanora
- To be adjudicated by the Court of King’s Bench of Alberta
- Trident may terminate the JV:
- litigation finds in favour of Bacanora
- Litigation remains unresolved by the long-stop date.
Funding Requirements
- Trident is not required to provide funding for Sonoroy to complete the acquisition
- If, at the time of funding, changes to Mexico’s regulatory regime materially affect Sonora
New Credit agreement completed
- New credit agreement completed with BMO Capital Markets
- The new US$40m RCF can be extended to US$60m
- Proceeds to retire existing US$40m secured debt from Macquarie bank
- Annual interest savings of up to US$1.3m, once fully drawn
Trident Royalties (TRR)