Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 70

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 70
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| ● | the                                                                                                                                 
 denominations in which we will issue the series of debt securities, if other than denominations of $1,000 and any integral multiple 
 thereof; and                                                                                                                        |

| ● | any                                                                                                                                
 other specific terms, preferences, rights or limitations of, or restrictions on, the debt securities. We may issue debt securities 
 that provide for an amount less than their stated principal amount to be due and payable upon declaration of acceleration of their 
 maturity pursuant to the terms of the indenture. We will provide you with information on the federal income tax considerations and 
 other special considerations applicable to any of these debt securities in the applicable prospectus supplement.                   |

Conversion or Exchange Rights

We will set forth in the prospectus supplement the terms, if any, on which a series of debt securities may be convertible into or exchangeable for our common shares or our other securities. We will include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option. We may include provisions pursuant to which the number of common shares or our other securities that the holders of the series of debt securities receive would be subject to adjustment.

Consolidation, Merger or Sale; No Protection in Event of a Change of Control or Highly Leveraged Transaction

The indentures do not contain any covenant that restricts our ability to merge or consolidate, or sell, convey, transfer or otherwise dispose of all or substantially all of our assets. However, any successor to or acquirer of such assets must assume all of our obligations under the indentures or the debt securities, as appropriate.

| 11 |

Unless we state otherwise in the applicable prospectus supplement, the debt securities will not contain any provisions that may afford holders of the debt securities protection in the event we have a change of control or in the event of a highly leveraged transaction (whether or not such transaction results in a change of control), which could adversely affect holders of debt securities.

Events of Default Under the Indenture

The following are events of default under the indentures with respect to any series of debt securities that we may issue:

| ● | if                                                                                                                                 
 we fail to pay interest when due and our failure continues for 90 days and the time for payment has not been extended or deferred; |

| ● | if                                                                                                                    
 we fail to pay the principal, or premium, if any, when due and the time for payment has not been extended or delayed; |

| ● | if                                                                                                                                      
 we fail to observe or perform any