Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 59

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 59
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:----|:----------|--------:|:--|
| Total debt                             |     | $      |  33,015 |   |     | $         |  33,015 |   |
| Common shares, without par value       |     |        | 556,687 |   |     |           | 596,573 |   |
| Reserves                               |     |        |  34,560 |   |     |           |  34,560 |   |
| Accumulated deficit                    |     |        | (71,221 | ) |     |           | (71,221 | ) |
| Accumulated other comprehensive income |     |        |     326 |   |     |           |     326 |   |
| Total shareholders’ equity             |     | $      | 520,352 |   |     | $         | 560,238 |   |
| Total capitalization and indebtedness  |     | $      | 553,367 |   |     | $         | 593,253 |   |

The foregoing table and calculations are based on 145,887,717 common shares outstanding as of March 31, 2024, and excludes, in each case as of March 31, 2024:

| ● | 7,766,211                                                                                                                        
 common shares issuable upon the exercise of outstanding options to purchase common shares with a weighted average exercise price 
 of $3.31 per share;                                                                                                              |

| ● | 2,010,922                                                                      
 common shares issuable upon the vesting of outstanding restricted share units; |

| ● | 595,350                                                                                                                               
 common shares issuable upon the exercise of 2,430,000 outstanding warrants of Ely Gold Royalties Inc., each such warrant representing 
 the right to acquire, on valid exercise thereof (including payment of the applicable exercise price), 0.2450 of a common share plus   
 C$0.0001, with a weighted average exercise price of C$4.59 per share;                                                                 |

| ● | up                                                                                                                                     
 to 22,857,143 common shares issuable upon the conversion of outstanding unsecured convertible debentures at maturity and common shares 
 issuable in respect of interest settlement in equity, in the aggregate amount of up to $6,000,000;                                     |

| ● | 4,811,638                                                                                           
 common shares that remain reserved for future issuance under our 2021 Long