Trident Royalties Regulatory News (TRR)

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN, SOUTH AFRICA, Hong Kong OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE WITHIN THIS ANNOUNCEMENT.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

For immediate release

19 March 2021

Trident Royalties Plc

("Trident" or the "Company")

Result of Primarybid.com Offer

And

Total Voting Rights

Total of US$28.9 million Raised to Support Transformational Lithium Royalty Acquisition

Further to its announcements earlier today, Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused mining royalty and streaming company, is pleased to announce that it has successfully raised gross proceeds of approximately £510,000 pursuant to the Retail Offer, which was closed early after being significantly oversubscribed, through the placing of 1,500,000 new ordinary shares of 1p each ("Ordinary Shares").

When added to the Fundraise announced at 7:00am today, Trident is also pleased to announce that in aggregate it has conditionally (conditions being admission of the shares to AIM and fulfilment of the placing agreements) raised approximately £20.7 million (approximately US$28.9 million), before expenses.

The Placing was conducted by Tamesis Partners LLP ("Tamesis"), Shard Capital Partners LLP ("Shard") and Ashanti Capital Pty Ltd ("Ashanti", together with Tamesis and Shard, the "Joint Bookrunners").

Settlement and Dealings

Together with the 63,513,720 new Ordinary Shares to be issued pursuant to the Placing and Subscription announced earlier today, application will be made to the London Stock Exchange for the new Ordinary Shares to be issued pursuant to the Retail Offer to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 24 March 2021.

Total Voting Rights

Following Admission of the new Ordinary Shares as described above and the Consideration Shares and the Placing Shares and Subscription Shares, the issued share capital of the Company will consist of 170,376,276 Ordinary Shares of 1p each, each carrying a right to one vote and with no shares held in treasury. 170,376,276 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Directors' interests

As announced earlier today, Al Gourley and Adam Davidson, directors of the Company, participated in the Placing and Subscription. Their participation and resultant holdings expressed as a percentage of the Company's voting rights as enlarged by the Placing and Subscription and the Retail Offer are as follows:

Adam Davidson, Chief Executive Officer and Executive Director of Trident commented:

"This has been an extremely well supported fundraising, with both new institutions and private investors joining our register, in addition to the welcome participation of many of our long-term supporters. Following the success of the placing announced this morning, I'm delighted by the response to the PrimaryBid.com offer which was closed early while significantly oversubscribed.

"Over the past ten months I believe Trident has proven the value of our mining royalty and streaming business model within the UK market, and am confident that the Thacker Pass royalty transaction and associated fundraise will propel us into the next phase of our growth. Not only is the Thacker Pass royalty an asset which delivers exposure to a strategic commodity and significant resource, but moreover, as a cornerstone asset for Trident, it represents a significant leap towards achieving critical mass within our royalty portfolio. The benefits of increased scale in the royalty model will directly support value accretive opportunities through improved access to capital, material revenue growth with fixed overheads, and will support initiatives such as a progressive dividend policy and lower-cost leverage.

"It is with enormous enthusiasm and positivity that I look forward to the rest of 2021 as we look to continue this momentum and build the value of our royalty portfolio."

Unless otherwise specified, defined terms used in this announcement shall have the meaning given to them in the Company's announcement of 7.00 am on 19 March 2021.

Market Abuse Regulation (MAR) Disclosure

Prior to its publication, certain information contained within this announcement was deemed to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 ('MAR') as it forms part of UK domestic law by virtue of the European (Withdrawal) Act 2018

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About Trident

Trident is a growth-focused, diversified mining royalty and streaming company, providing investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals.

Key highlights of Trident's strategy include:

· Building a royalty and streaming portfolio to broadly mirror the commodity exposure of the global mining sector (excluding thermal coal) with a bias towards production or near-production assets, differentiating Trident from the majority of peers which are exclusively, or heavily weighted, to precious metals;

· Acquiring royalties and streams in resource-friendly jurisdictions worldwide, while most competitors have portfolios focused on North and South America;

· Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players;

· Active deal-sourcing which, in addition to writing new royalties and streams, will focus on the acquisition of assets held by natural sellers, such as: closed-end funds, prospect generators, junior and mid-tier miners holding royalties as non-core assets, and counterparties seeking to monetise packages of royalties and streams which are otherwise undervalued by the market;

· Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and

· Leveraging the experience of management, the board of directors, and Trident's adviser team, all of whom have deep industry connections and strong transactional experience across multiple commodities and jurisdictions.

The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.