Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 55

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 55
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 future to fund our growth strategy and maintain our operations; |
| ● | we have a history of negative cash flow from operating                                                  
 activities;                                                                                             |

| ● | our                                                                       
 future growth is to a large 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 royalty interests could be found to be invalid;                            |

| ● | operators                                                                                                                                 
 may interpret our existing or future royalty 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 are 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 royalty and other 
 interests may be subject to significant revision;                                                                                  |

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

| ● | we                                                                                                               
 may enter into transactions with related parties and such transactions present potential conflicts of interests; |

| ● | regulations                                                                                                                             
 and political or economic developments in any of the jurisdictions where the properties in which we hold or may hold royalties, streams 
 or similar interests are located;                                                                                                       |

| ● | opposition                                                                          
 from Indigenous peoples may adversely impact the projects underlying our interests; |

| ● | environmental                                                                   
 risks in the jurisdictions where projects underlying our interests are located; |

| ● | our                                                                                                                                      
 operations and those of the owners and operators of the properties underlying our royalty and other interests may be negatively impacted 
 by the effects of the spread of illnesses or other public health emergencies;                                                            |

| ● | our                                     
 dependence on key management personnel; |