Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 6

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 6
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-party mining companies in transactions where we would retain a royalty, carried interest or other similar interest. We believe the royalty generator model provides increased volume of potential royalty opportunities, targeting opportunities with potential exploration upside.

We generally do not conduct development or mining operations on the properties in which we hold interests, and we are not required to contribute capital costs to these properties. We may, from time to time, conduct non-material exploration-related activities to advance our royalty generator model.

Recent Developments

Acquisition of Pedra Branca Royalty

On December 7, 2025, we announced we entered into a royalty purchase agreement (the “ Purchase Agreement”) with BlackRock World Mining Trust plc (“ BlackRock”) to acquire its interest in an existing net smelter returns (“ NSR”) royalty of 2% on copper, 25% on gold and 2% on all other metals produced (the “ Royalty”) in respect of certain areas at Pedra Branca, operated by a subsidiary of BHP, and located in northeastern Brazil (the “ Acquisition”). Total consideration will consist of $70.0 million, which is to be satisfied by the Company at closing by paying BlackRock $70.0 million in cash. See the section entitled “ The Acquisition”.

Net proceeds from this offering are intended to be used to fund the Acquisition. See the section entitled “Use of Proceeds”. However, this offering is not conditional upon completion of the Acquisition. The Acquisition is subject to the satisfaction of customary conditions to closing; accordingly, there is no guarantee the Acquisition will close on a timely basis or at all. See the section entitled “ Risk Factors – Risks Related to this Offering” and “ Risk Factors – Risks Related to the Acquisition”.

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Credit Facility Amendment and Debenture Retirement

On November 25, 2025, we entered into a sixth amendment agreement with the Bank of Montreal and National Bank Capital Markets to amend and upsize our existing revolving credit facility (the “ Facility”). The Facility now consists of a US$75 million secured revolving credit line, with an accordion feature allowing for up to an additional US$25 million in availability, subject to certain conditions, for a total maximum of US$100 million. The maturity date of the Facility has been extended from March 31, 2028, to November 25, 2028. The Facility, secured against the assets of the Company, will be available for general corporate purposes and to finance acquisitions and investments and may be drawn in U.S. dollar