Trident Royalties PLC signs new loan agreement to improve balance sheet
The company said the $ 10 million facility will provide additional capital to promote “continued growth and diversification” of its royalty portfolio.
() said it has entered into a US $ 10 million secured loan facility agreement with a syndicate managed by Tribeca Investment Partners, comprising the CNL Sprott Strategic Asset Fund and Paul Smith, the chairman of the company.
The AIM-listed company said the new facility will support its balance sheet by providing additional capital to promote “continued growth and diversification” of its royalty portfolio following the completion of the Thacker Pass lithium royalty transaction in March.
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Trident added that the facility is in line with its strategy of using a prudent level of debt now that it has reached an appropriate size and scale.
“The finalization of this US $ 10 million loan facility comes at an important time for Trident, supporting our already healthy balance sheet in a period where we have grown through royalty acquisition, as well as having seen progress. positive at the asset level, and are currently reviewing a number of royalty and streaming opportunities under 12 active NDAs, ”Trident CEO Adam Davidson said in a statement.
“Following our most recent and significant acquisition of 60% of the lithium royalty from Thacker Pass in Nevada, and in a widely reported global macroeconomic backdrop in favor of critical minerals, we are confident to utilize the increased resources now at our disposal for further growth and diversification across the portfolio, ”he added.