Trident Acquisitions Announces Board Approval to Extend Period to Consummate Business Combination

NEW YORK, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Trident Acquisitions Corp. (NASDAQ: TDACU, TDAC, TDACW) (“Trident”), a special purpose acquisition company, announced the approval of its board of directors (the “Board”) to extend the date by which Trident has to complete a business combination for an additional three months, to June 1, 2021 (the “Extension”).

The purpose of the Extension is to permit sufficient time for Trident to consummate its previously announced proposed business combination with Lottery.com, including filing a registration statement on Form S-4 that will include a proxy statement. The Extension was approved by Trident’s stockholders on November 30, 2020.  For a summary of the material terms of the proposed transaction, please see Trident’s Current Report on Form 8-K filed on February 23, 2021 with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the announcement of the proposed business combination.

About Trident Acquisitions Corp.

Trident is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. Trident's securities are quoted on the NASDAQ stock exchange under the ticker symbols TDACU, TDAC and TDACW. For more information, visit tridentacquisitions.com.

About Lottery.com

Lottery.com is an Austin, TX-based company enabling consumers to play state-sanctioned lottery games from their home or on the go in the US, and select lottery products internationally. The company works closely with state regulators to advance the lottery industry, providing official lottery games and enhanced regulatory capabilities, while capturing untapped market share, including millennial players. Lottery.com is also gamifying charitable giving to fundamentally change how nonprofits engage with their donors and raise funds. Through their WinTogether.org platform, they offer charitable donation sweepstakes to incentivize donors to take action by offering once in a lifetime experiences and large cash prizes.

Important Notice Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements”. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Trident, including those set forth in the Risk Factors section of Trident's annual report on Form 10-K for the year ended December 31, 2019, filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Trident undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.