Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 15

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 15
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| ● | 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 to meet their liquidity needs may 
 adversely affect the value of, and revenue from, such interests;                         |

| ● | estimates                                                                                         
 of mineral resources and mineral reserves disclosed by the owners and operators of the properties 
 underlying our royalties, streaming and other interests may be subject to significant revision;   |

| ● | depleted                                                                                  
 mineral reserves may not be replenished by the operators of the properties underlying our 
 royalties, streaming and other interests;                                                 |

| S-10 |

| ● | we                                                                                       
 may enter into transactions with related parties