EX-99.1

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EARNINGS RELEASE

amao_ex991.htm

EXHIBIT 99.1

Royalty Management Holding Corporation Reports First Quarter 2024 Financial Results and Provides Business Outlook

Company reports profitable first quarter of 2024 highlighting its low-cost, low-overhead operating model

Company reports a 160% year-over-year increase in revenue and a 149% year-over-year increase in net income

Company is well positioned to continue growing its platform of assets and quarterly revenue growth, given clean balance sheet and unique investment opportunities

May 28, 2024 | Source: Royalty Management Holding Corporation

FISHERS, INDIANA / ACCESSWIRE / May 28, 2024 / Royalty Management Holding Corporation (Nasdaq: RMCO) (“Royalty Management” or the “Company”), an innovative royalty company building shareholder value by acquiring and developing high value assets in a variety of resource-driven and emerging technology industries is pleased to announced today its financial results for the first quarter of 2024.

Thomas Sauve, Chief Executive Officer of the Company, commented, “We are excited to release our first 2024 first quarterly financial results and to share our business update with our investors as we continue a strong start to the 2024 year with a focus on value creation events and opportunistic growth. Post completion of the merger with American Acquisition Opportunity Inc,, we’ve looked to focus on the highest value contributors of the business while also establishing a low-cost, low-overhead business model. Our team is motivated by the equity value of the Company and aligned with our shareholders on maximizing this value, as opposed to being simply “hired guns” with salaries.  With that in mind, we couldn’t be more excited how we are positioned to continue to grow the business given our clean balance sheet and strong asset base.  We are pleased with our first quarter and the second quarter is tracking growth compared to first quarter in both revenues and cash flow.”

Key Highlights

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Communicated updated production and revenue guidance of its portfolio company, Ferrox Holdings’ Tivani mining project containing deposits of Titanium, Iron and Vanadium from which it has commenced production. Upon completion of Ferrox’s investment into its crushing and concentration plant, the company anticipates it will be able to increase production and sales to approximately 50,000 tons of run-of-mine ores per year in 2025 and approximately $8 million in annualized revenue, continuing to expand thereafter as the company continues its investment into the deposit and production.

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Renewed its gold status membership in Texas Tech University’s Center for Advancing Sustainable and Distributed Fertilizer Production, or ‘CASFER’ organization. As a gold member of CASFER, RMC has access to the technologies and intellectual property developed out of CASFER, in particular the innovative and novel technologies to produce, capture, and recycle nitrogen-based fertilizers from farming activities. Opportunities for Royalty Management to participate in the emerging technologies and patents from CASFER are already occurring, with more Company updates on these opportunities in the near future.

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Announced that its environmental services business, under the wholly-owned subsidiary, RMC Environmental Services LLC, recorded record monthly revenue of slightly under $1.0 million run rate revenue for the month of March, equating to a positive cash flow run rate equivalent for all of Royalty Management Holding Corporation.

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Engaged CM3 Advisory as the Company’s independent registered public accounting firm.

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Announced that the Company’s Board of Directors voted unanimously to institute a stock repurchase program of Royalty Management Holding Corporation’s Class A Common Shares for up to $2.0 million over the next 24 months of which the Company has already commenced the buy-back of stock prior to the start of the current “black out” period.

Mr. Sauve continued, “Looking forward to the remainder of 2024, our belief in, and excitement over, the opportunities we have in front of us continues to reach an all-time high. Our current platform of assets are well positioned to generate attractive cash flow and long-term value for the Company and its shareholders alike. RMC Environmental Services continues to operate efficiently and covers the majority of our overall corporate expenses, let alone our other active and cash-flowing investments and projects we are developing towards that goal resulting in bottom line income. Over the next six months we anticipate additional revenue streams to expand from our portfolio and generate free cash flow which will position us well for an exciting 2025.”

Select Financial Results for First Quarter 2024

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For the first quarter of 2024, Royalty Management reported net income of $135,180, or $0.01 per share, as compared with a net income loss of $274,345, or a loss of $0.38 per share, in the prior year per