Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 79

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 79
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 terms and conditions of the subscription receipts. Each Escrow Agent will be a financial institution organized under the laws of Canada or a province or territory thereof and authorized to carry on business as a trustee. The applicable prospectus supplement will include details of the subscription receipt agreement, if any, governing the subscription receipts being offered. We will file a copy of any subscription receipt agreement relating to an offering of subscription receipts with the relevant securities regulatory authorities in Canada after it has been entered into by us. In the United States, we will file as exhibits to the registration statement, or will incorporate by reference from subsequently filed reports on Form 6-K that we file with the SEC, any subscription receipt describing the terms and conditions of subscription receipts we are offering before the issuance of such subscription receipts.

Our equity securities and/or other securities issued or delivered upon the exchange of subscription receipts will be issued for no additional consideration.

Prior to the exchange of their subscription receipts, holders of subscription receipts will not have any of the rights of holders of the securities subject to the subscription receipts.

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<div align='center'>DESCRIPTION OF WARRANTS</div>

We may issue warrants for the purchase of debt securities, preferred shares or common shares. Warrants may be issued independently or together with debt securities, preferred shares or common shares and may be attached to or separate from any offered securities. Any issue of warrants may be substantially similar to our Listed Warrants. Any issue of warrants will be governed by the terms of the applicable form of warrant and any related warrant agreement which we will file with the SEC and they will be incorporated by reference to the registration statement of which this prospectus is a part on or before the time we issue any warrants.

The particular terms of any issue of warrants will be described in the prospectus supplement relating to the issue. Those terms may include:

| ● | the                     
 title of such warrants; |

| ● | the                                
 aggregate number of such warrants; |

| ● | the                                                    
 price or prices at which such warrants will be issued; |

| ● | the                                                                                                         
 currency or currencies (including composite currencies) in which the price of such warrants may be payable; |

| ● | the                                                                                                                              
 terms of the securities purchasable upon exercise of such warrants and the procedures and conditions relating to the exercise of 
 such warrants;                                                                                                                   |

| ● | the                                                                                        
 price at which the securities purchasable upon exercise of such warrants may be purchased; |

| ● | the                                                                                                            
 date on which the right to exercise such warrants