Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 11

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 11
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 in the public markets could depress the market price of our common shares and impair our ability to raise capital through the sale of additional equity securities. We cannot predict the effect that future sales of our common shares would have on the market price of our common shares.

Future sales of our common shares, or other securities exercisable or convertible into our common shares in the public market or other financings could cause the price of our common shares to fall.

Sales of a substantial number of our common shares, or other securities exercisable or convertible into our common shares in the public market, the perception that these sales or other financings might occur, could depress the market price of our common shares and could impair our ability to raise capital through the sale of additional equity securities. A substantial majority of our outstanding common shares are, and all of the common shares to be sold in this offering upon issuance will be, freely tradable without restriction or further registration under the Securities Act unless these common shares are owned or purchased by “affiliates” as that term is defined in Rule 144 under the Securities Act. In addition, our common shares and the common shares issuable upon exercise of outstanding options and warrants will be eligible for sale in the public market to the extent permitted by applicable vesting requirements and, in some cases, subject to compliance with the requirements of Rule 144. As a result, these common shares can be freely sold in the public market upon issuance, subject to restrictions under applicable securities laws.

You may experience future dilution as a result of future equity offerings.

To raise additional capital, we may in the future offer additional common shares or other securities convertible into or exchangeable for common shares at prices that may not be the same as the price per share in this offering. We may sell common shares or other securities in any other offering at a price per share that is less than the price per share paid by investors in this offering, and investors purchasing shares or other securities in the future could have rights superior to existing shareholders. The price per share at which we sell additional common shares, or securities convertible or exchangeable into common shares, in future transactions may be higher or lower than the price per share paid by investors in this offering.

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U.S. holders of our common shares may suffer adverse tax consequences as a result of our passive foreign investment company status.

We believe that we were a passive foreign investment company, or PFIC, for the tax year ended December 31, 2024, and expect to be treated as a PFIC