Admission to Trading on OTCQX in the US
5 April 2023
Trident Royalties Plc
("Trident" or the "Company")
Admission to Trading on OTCQX in the US
Trident Royalties Plc (AIM:TRR, OTCQX: TDTRF), the diversified mining royalty company, is pleased to announce that its Ordinary Shares have been approved to trade on the OTCQX Market ("OTCQX") in the United States of America (the "US") and will commence trading at the market open today under the ticker symbol "TDTRF".
The cross-trading of Trident's ordinary shares on the OTCQX will provide enhanced investor benefits, including easier trading access for investors located in the US, and greater liquidity due to a broader geographic pool of potential investors. Through trading on the OTCQX, the Company will be able to engage with a network of US investors, ensuring that they have the same level of information and disclosure available to investors in the United Kingdom, but through U.S.-facing platforms and portals. In addition, the OTCQX cross-trading facility will provide US based investors with the ability to access Trident's Ordinary Shares in US dollars during US market hours.
Adam Davidson, Chief Executive Officer of Trident commented:
"Trading on OTCQX opens Trident to a new pool of potential investors in the US with an appetite for exposure to a diverse mix of commodities - an offering quite different to the traditional mining royalty companies that have dominated the North American markets to date. This is particularly timely given the recent developments at the Thacker Pass Lithium Project in Nevada, being a key asset within Trident's portfolio, as well as developments at Trident's North American gold offtake assets. The quotation supports our vision of Trident being the leading royalty company for global investors to obtain exposure to a diversified portfolio of mining commodities."
About OTCQX
The ability to trade in the Company's existing Ordinary Shares on AIM will not be affected by having the OTCQX listing and no new Ordinary Shares have been issued. Trident will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Service and has no Sarbanes-Oxley or US Securities and Exchange Commission ("SEC") reporting requirements. Trident's OTC Sponsor and market maker is Stifel, Nicolaus & Company, Incorporated.
The OTCQX is recognised as an Established Public Market by the SEC and is considered the premier tier of the OTC Market. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. As a verified market with efficient access to US investors, OTCQX supports companies as they look to build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
US investors can find real-time quotes and market information, and access current company news and developments for Trident at www.otcmarkets.com .
Trident has not made, and does not expect to make, a determination as to whether it, or any of its subsidiaries, are Passive Foreign Investment Companies ("PFIC") for U.S. tax purposes for any taxable year.
** Ends **
Contact details:
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Trident Royalties Plc Adam Davidson / Richard Hughes |
www.tridentroyalties.com +1 (757) 208-5171 / +44 7967 589997 |
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Grant Thornton (Nominated Adviser) Colin Aaronson / Samantha Harrison / Samuel Littler |
+44 020 7383 5100 |
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Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart / Ashton Clanfield |
+44 20 7710 7600 |
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Liberum Capital Limited (Joint Broker) Scott Mathieson / Cara Murphy |
+44 20 3100 2184 |
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Tamesis Partners LLP (Joint Broker) Richard Greenfield |
+44 20 3882 2868 |
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St Brides Partners Ltd (Financial PR & IR) Susie Geliher / Catherine Leftley |
+44 20 7236 1177 |
About Trident
Trident is a growth-focused diversified mining royalty and streaming company, providing investors with exposure to a mix of base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
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Building upon a royalty and streaming portfolio which broadly mirrors the commodity exposure of the global mining sector (excluding fossil fuels) 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; |
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Acquiring royalties and streams in resource-friendly jurisdictions worldwide, while most competitors have portfolios focused on North and South America; |
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Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players; |
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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; |
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Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and |
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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.
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