Nomad Royalty Company Ltd. (TSX:NSR) entered into a letter of intent to acquire Coral Gold Resources Ltd. (TSXV:CLH) on July 18, 2020. Nomad Royalty Company Ltd. entered into a definitive arrangement agreement to acquire Coral Gold Resources Ltd. on August 23, 2020. The transaction has a total value of approximately $45.8 million. Pursuant to the transaction, Coral shareholders will be entitled to receive, for each Coral share held, consideration consisting of CAD 0.05 ($0.038) in cash and 0.80 of a unit of Nomad. Each unit will consist of one Nomad common share and one-half of a common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional Nomad common share. Each stock option to acquire common shares of Coral will be subject to accelerated vesting in accordance with Coral's stock option plan, and the option holders are expected to enter into option exercise and termination agreement with Coral prior to closing of the transaction, pursuant to which the option holders will be required to exercise their stock options prior to closing of the transaction or, if they fail to do so, any and all outstanding and unexercised stock options of Coral shall expire and be terminated as of the effective date of the transaction. The agreement includes customary deal protection provisions in favor of Nomad, including non-solicitation covenants and a right to match superior proposals, and a termination fee in favor of Nomad equal to 4.5% of the market capitalization of Coral on the date of any termination of the agreement by Coral.

The transaction will be subject to the approval of at least two-thirds of the votes cast by Coral shareholders, approval of court, regulatory approval, including approval by the TSX for the listing of the shares to be issued by Nomad and the common shares issuable upon exercise of the warrants, if any, Lock-Up Agreement dated the Effective Date; Nomad Royalty shall have received the duly completed and executed copies of the Option Exercise and Termination Agreements, Coral Gold Resources Shares in respect of which Coral Gold Resources Shareholders have either:(i) exercised Dissent Rights; or (ii) have instituted proceedings to exercise Dissent Rights, do not exceed 5% of the Company Shares then outstanding and other closing conditions customary. Certain Coral shareholders as well as Coral's Directors and officers, holding or having control or direction over an aggregate of 39.46% of the issued and outstanding Coral shares, have entered into a support and voting agreement with Nomad to vote in favor of the transaction. The transaction received the unanimous support of the Boards of Directors of Nomad and Coral. Shareholders of Coral will hold annual general and special meeting on November 12, 2020 to approve the transaction. On October 8, 2020, the B.C. Supreme Court authorized Coral shareholders to consider and approve the transaction. On November 12, 2020, Coral's common shareholders voted 98.86% in favour of the special resolution to approve the arrangement at annual general and special meeting, and also approved the arrangement by a majority of its minority shareholders. Coral will apply for a final order of the Supreme Court of British Columbia for approval of the arrangement on November 16, 2020. As of November 16, 2020, Supreme Court of British Columbia has approved the transaction. The transaction is expected to close on or about November 6, 2020. On October 15, 2020, the transaction is expected to close on or about November 19, 2020.

Cantor Fitzgerald Canada Corporation acted as financial advisor to Coral and PI Financial Corp. provided an independent fairness opinion to Coral's Board of Directors. Paul Bowes of Harper Grey LLP acted as legal advisor for Coral. Sébastien Bellefleur of Fasken Martineau DuMoulin LLP acted as legal advisor for Nomad. Computershare Investor Services Inc. is acting as registrar and transfer agent of Nomad and Coral. Laurel Hill Advisory Group, LLC acted as proxy solicitor to Coral for a fee of CAD 42,963 ($32,500). Cantor Fitzgerald Canada Corporation will receive a fee of 2% of the aggregate consideration for its services to Coral. PI Financial will receive a fee of CAD 264,392 ($200,000) for rendering the opinion to Coral.

Nomad Royalty Company Ltd. (TSX:NSR) completed the acquisition of Coral Gold Resources Ltd. (TSXV:CLH) for CAD 60.5 million on November 19, 2020. As a result of the closing of the transaction, Coral Gold shares are expected to be delisted from the TSX Venture Exchange and any other stock exchange on which the Coral shares are listed or quoted, after the close of transaction on November 20, 2020, and Nomad will apply to have Coral cease to be a reporting issuer in every province of Canada in which it is a reporting issuer. Nomad has applied to list the Warrants issuable pursuant to the arrangement and the TSX has conditionally approved the listing of the Warrants, subject to Nomad fulfilling all of the standard requirements of the TSX, which cannot be assured. As part of consideration, For each Coral Share, former Coral shareholders received $0.05 in cash, 0.80 of a common share of Nomad and 0.4 of a common share purchase warrant of Nomad. The total consideration paid by Nomad to Coral former shareholders consisted of an aggregate amount of CAD 2.5 million in cash and the issuance of an aggregate of 39,994,252 Nomad Shares and 19,997,118 Nomad Warrants. Each full Nomad Warrant entitles the holder thereof to purchase one additional Nomad Share at a price of CAD 1.71 until November 19, 2022