Trident Royalties PLC Announces Completion of Dandoko Royalty Acquisition

Completion of Dandoko Royalty Acquisition, Issue of Consideration Shares and Total Voting Rights

LONDON, UK / ACCESSWIRE / September 4, 2023 / Trident Royalties Plc (AIM:TRR)(OTCQB:TDTRF), is pleased to announce that all pre-conditions to the Dandoko Royalty acquisition in the binding acquisition agreement ("Agreement") have now been satisfied and completion has occurred.

On 21 August 2023, the Company announced that it had entered into a binding agreement to acquire a 50% interest in a 2% net smelter royalty (the "Royalty") over the Dandoko Gold Project permit area in western Mali owned by B2Gold Corporation Limited. The Royalty was acquired for total consideration of up to US$6.25 million¹.

Pursuant to the Agreement, Trident has paid US$3.0 million in cash and will pay US$0.75 million in ordinary shares (together, the "Upfront Payment"), which will be satisfied by the issue of 1,425,210 new ordinary shares of 1p each in Trident ("Consideration Shares") at 41.9213p per Ordinary Share.

In addition to the Upfront Payment, in consideration of the acquisition, Trident shall pay:

• US$1.25 million in cash on first royalty receipt from the royalty area, and
• US$1.25 million in cash on receipt of payment on 500,000 ounces gold sold from the royalty area.

Settlement and Dealings
Application has been made to the London Stock Exchange Plc for admission to trading on the AIM Market of the 1,425,210 Consideration Shares, which rank pari passu with the Company's existing issued Ordinary Shares ("Admission"). Dealings on AIM are expected to commence at 8:00am on or around 5 September 2023.

Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Trident will have 292,730,176 ordinary Shares of 1p each in the capital of the Company in issue with voting rights attached. Trident does not hold any shares in treasury. This figure of 292,730,176 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the DTRs.