Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 117

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 19
Chunk 117
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 was increased to $25,000 with a $10,000 accordion option. On August 24, 2023, the Company drew $7,500 to acquire the Cozamin royalty and settled it on December 15, 2023. On March 1, 2024, the Company extended the maturity date of the Credit Facility toMarch 31, 2027. On June 4, 2024, the Company expanded the Credit Facility to $30,000 with an accordion feature providing for an additional $5,000 of availability, subject to certain additional conditions and drew $15,000 to acquire the Vareš Copper Stream. The outstanding principal balance as of December 31, 2024, was$25,287. The following outlines the movement of the bank loan fromDecember 31, 2022, to December 31, 2024:
($)
Balance at December 31, 2022 9,448
Additional draw-down 17,787
Repayment ( 17,500)
Less: transaction costs and fees ( 418)
Modification adjustment 249
Interest expense 1,584
Interest paid ( 1,119)
Balance at December 31, 2023 10,031
Additional draw-down 15,000
Less: transaction costs and fees ( 376)
Modification adjustment ( 310)
Interest expense 2,053
Interest paid ( 1,478)
Balance at December 31, 2024 24,920

F-14

Gold Royalty Corp.

Notes to Consolidated Financial Statements

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

8. Convertible debentures
On December 15, 2023, the Company completed a private placement of $40,000 aggregate principal amount of unsecured convertible debentures (the " Debentures") with Queen's Road Capital Investment Ltd. ("QRC") and Taurus Mining Royalty Fund L. P., a fund managed by Taurus Funds Management Pte Limited (collectively, the " Holders"). The Debentures are unsecured and bear interest at10% per annum over a5-year term, interest is payable70% in cash and30% in GRC Shares issuable at a price equal to the 20-day volume-weighted average trading price calculated at each interest payment date.
The Company identified the Debentures as compound financial instruments. In accordance with IFRS 9 Financial Instruments and IAS