Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 15

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 15
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 to ensure 
 properties are developed or operated in our best interest;                                     |

| ● | a                                                                                        
 substantial majority of our royalty and other interests are on non-producing properties, 
 which may never achieve production;                                                      |

| ● | our                                                                          
 revenue is subject to volatility in gold, copper and other commodity prices; |

| ● | the                                                                                           
 volatility in gold, copper and other commodity prices may have an adverse impact on the value 
 of our royalties, streaming and similar interests and on the payments we receive thereunder   
 in the future;                                                                                |

| ● | we                                                                                     
 have limited or no access to data or the operations underlying our existing interests; |

| ● | a                                                                                           
 significant portion of our revenues is derived from a small number of operating properties; |

| ● | the                                                                                            
 value and potential revenue from our royalties, streaming and other interests are subject      
 to many of the risks faced by owners and operators of the properties underlying our interests; |

| ● | our                                                                                           
 business, financial condition and results of operations could be adversely affected by market 
 and economic conditions;                                                                      |

| ● | we                                                                      
 may enter into acquisitions or other material transactions at any time; |

| ● | current                                                                                       
 and future indebtedness could adversely affect our financial condition and impair our ability 
 to operate our business;                                                                      |

| ● | our                                                                    
 future growth is, to an extent, dependent on our acquisition strategy; |

| ● | our                                                                                               
 business and revenues could be adversely affected by problems concerning the existence, validity, 
 enforceability, terms or geographic extent of our royalty interests, and our interests may        
 similarly be materially and adversely impacted by change of control, bankruptcy or the insolvency 
 of operators;                                                                                     |

| ● | if                                                                                             
 title to mining claims, concessions, licenses, leases or other forms of tenure is not properly 
 maintained by the operators, or is successfully challenged by third parties, our existing      
 royalties, streaming or other interests could be found to be invalid;                          |

| ● | operators                                                                                  
 may interpret our existing or future royalties, streaming or other interests in a manner   
 adverse to us or otherwise may not abide by their contractual obligations, and we could be 
 forced to take legal action to enforce our contractual rights;                             |

| ● | certain                                                                            
 of our royalty interests are subject to buy-back or other rights of third parties; |

| ● | mine                                                                                     
 development and operation is capital intensive and any inability of the operators of the 
 properties underlying our existing or future interests