Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 121

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 19
Chunk 121
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 2,065
Other deferred tax assets 471 1,696
2,677 28,299

F-16

Gold Royalty Corp.

Notes to Consolidated Financial Statements

(Expressed in thousands of United States dollars unless otherwise stated)

10. Income taxes (continued)
The deferred tax assets have not been recognized in the consolidated financial statements, as the Company does not consider it probable that those assets will be realized in the future. As of December 31, 2024, the Company had Canadian net operating loss carryforwards of$33,641 which expires between 2040 and 2044. As of December 31, 2024, there are U. S. net operating loss carryforwards of$3,495, of which$1,260 expires between 2034 and 2037 and the remainder may be carried forward indefinitely. As of December 31, 2024, there are Mexican net operating loss carryforwards of$621 which may be carried forward ten years.

11. Equity
11.1 Common Shares
The authorized share capital of the Company consists of an unlimited number of common shares and an unlimited number of preferred shares issuable in series without par value.
On October 12, 2021, the Company issued120,000 GRC Shares with a fair value of $626 to service providers as compensation for the expanded scope of digital marketing services for a contract term ending on June 27, 2022. $626 was recognized as share-based compensation expense for the year ended September 30, 2022.
On November 5, 2021, the Company completed its acquisitions of Golden Valley Mines and Royalties Ltd. and Abitibi Royalties Inc. by issuing an aggregate of61,104,200 GRC Shares with a fair value of $296,966.
On March 1, 2022, the Company issued207,449 GRC Shares to acquire a royalty on a portion of the Côté Gold Project. In addition, on May 25, 2022, the Company issued an additional50,000 GRC Shares to third parties in connection with certain acknowledgement in connection with the transaction.
On March 22, 2022 and May 19, 2022, the Company issued39,435 GRC Shares with fair value of $148 to service providers for the provision of marketing services. The Company amortized the prepaid fee over the term of the agreement and recognized $148 as share-based compensation expense for