Trident Acquisitions Corp. (NASDAQ: TDACU, TDAC, TDACW) ("Trident"), a special purpose acquisition company, announced today that it has deposited into the Trident trust account (the "Trust Account") an aggregate of $500,000 (the "Extension Amount"), representing approximately $10.66 per share of common stock, in order to extend the period of time Trident has to complete a business combination for an additional three (3) months, from March 1, 2020 to June 1, 2020. Trident paid the Extension Amount out of its working capital. The purpose of the extension is to provide time for Trident to complete its initial business combination.

Trident Acquisitions Corp. (NASDAQ: TDACU, TDAC, TDACW) ("Trident"), a special purpose acquisition company, wishes to clarify that, if stockholders approve the amendment to Trident's certificate of incorporation at the stockholder's meeting to be held on May 28, 2020, Trident's insiders or their affiliates or designees must deposit $0.15 for each public share of common stock that has not been redeemed into the trust account for the three month extension. Trident was advised that Institutional Shareholder Services (ISS) previously issued a report that erroneously stated the amount that would be deposited would only be $500,000 in the aggregate.