Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 3

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 3
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. Persons outside the United States who come into possession of this prospectus supplement and the accompanying prospectus must inform themselves about, and observe any restrictions relating to, the offering of the common shares and the distribution of this prospectus supplement and the accompanying prospectus outside the United States. This prospectus supplement and the accompanying prospectus does not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any common shares offered by this prospectus supplement and the accompanying prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.

Neither we nor the Underwriters have taken any action that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States . You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus.

We are also offering the common shares in Canada by way of a separate Canadian prospectus supplement, of which this prospectus supplement forms a part. The Canadian prospectus supplement, which will be filed with the securities regulators in all of the provinces and territories of Canada, except Québec and Nunavut, has the same date as this prospectus supplement and contains substantially the same information but has a different format and is not considered part of this prospectus supplement. The offering being made in the United States is being made solely on the basis of the information contained in this prospectus supplement and the accompanying prospectus. Investors should take this into account when making investment decisions.

NBF, RBC and ● are not registered as broker-dealers in the United States and, accordingly, will only sell offered common shares in Canada, and BMO, ● and ● are not registered as investment dealers in any Canadian jurisdiction and, accordingly, will only sell offered common shares in the United States.

<div align='center'>PRESENTATION OF FINANCIAL INFORMATION</div>

We report under IFRS Accounting Standards as issued by the International Accounting Standards Board. None of the financial statements incorporated by reference in this prospectus were prepared in accordance with generally accepted accounting principles in the United States. We present our financial statements in U.S. dollars.

<div align='center'>CAUTIONARY NOTE REGARDING MINERAL RESERVES AND MINERAL RESOURCES</div>

We are subject to the reporting requirements of the applicable Canadian and United States securities laws. The disclosure of scientific and technical information regarding the properties underlying our