Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 90

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 16G
Chunk 90
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 the Minister responsible for theInvestment Canada Act and obtain approval of the Minister prior to acquiring control of a "Canadian Business" within the meaning of theInvestment Canada Act, where prescribed financial thresholds are exceeded. Finally, limitations on the ability to acquire and hold our common shares may be imposed by the Competition Act(Canada). TheCompetition Act(Canada) establishes a pre-merger notification regime for certain types of merger transactions that exceed certain statutory shareholding and financial thresholds. Transactions that are subject to notification cannot be closed until the required materials are filed and the applicable statutory waiting period has expired or been waived by the Commissioner. However, theCompetition Act(Canada) permits the Commissioner of Competition to review any acquisition or establishment, directly or indirectly, including through the acquisition of shares, of control over or of a significant interest in us, whether or not it is subject to mandatory

notification. Otherwise, there are no limitations either under the laws of Canada, or in our Articles or amended and restated bylaws (" bylaws") on the rights of non-Canadians to hold or vote our common shares. Any of these provisions may discourage a potential acquirer from proposing or completing a transaction that may have otherwise presented a premium to our shareholders. We cannot predict whether investors will find our Company and our common shares less attractive because we are governed by foreign laws.

U. S. civil liabilities may not be enforceable against us, our directors, our officers or certain experts named in this Annual Report. Similarly, it may be difficult for Canadian investors to enforce civil liabilities against our directors and officers residing outside of Canada.

We are governed by the CBCA and our principal place of business is in Canada. Many of our directors and officers, as well as certain experts named herein, reside outside of the United States, and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us and such directors, officers and experts or to enforce judgments obtained against us or such persons, in U. S. courts, in any action, including actions predicated upon the civil liability provisions of U. S. federal securities laws or any other laws of the United States. Additionally, rights predicated solely upon civil liability provisions of U. S. federal securities laws or any other laws of the United States may not be enforceable in original actions, or actions to enforce judgments obtained in U. S. courts, brought in Canadian courts.