DESIGNATED NEWS RELEASE
VANCOUVER, BC, Aug. 30,
2023 /PRNewswire/ - Gold Royalty Corp. ("Gold
Royalty" or the "Company") (NYSE American: GROY) is
pleased to announce that, further to its news release dated
July 31, 2023, it has completed the
indirect acquisition of a 1.0% net smelter return (NSR) royalty
(the "Royalty") on portions of the Cozamin Copper-Silver
Mine, located in Zacatecas,
Mexico, from Endeavour Silver Corp. and its subsidiary
("Endeavour").
Pursuant to the transaction, Gold Royalty indirectly acquired
the Royalty for US$7.5 million in
cash consideration.
Cozamin is a producing mine operated by Capstone Copper Corp.
The Royalty applies to two concessions (Calicanto and Vicochea).
Gold Royalty received the option to acquire a 1% NSR royalty on
five additional concessions if such royalties are granted to
Endeavour in the future. Pursuant
to such option, Gold Royalty may acquire such additional royalties,
subject to existing rights of first refusal, in exchange for
US$300,000, in the case of the Mise
concession and US$50,000 in the case
of each other concession. Such option consideration may be
satisfied, at the option of Gold Royalty, through the issuance of
common shares of the Company.
As announced on July 31, 2023, the
Company's board of directors suspended dividends under its dividend
program in connection with the completion of the Cozamin royalty
acquisition in order to focus capital on executing its strategic
priority of growing cash flow and net asset value per share through
accretive acquisitions.
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty company offering
creative financing solutions to the metals and mining industry. Its
mission is to acquire royalties, streams and similar interests at
varying stages of the mine life cycle to build a balanced portfolio
offering near, medium and longer-term attractive returns for its
investors. Gold Royalty's diversified portfolio currently consists
primarily of net smelter return royalties on gold properties
located in the Americas.
Qualified Person
Alastair Still, P.Geo., Director
of Technical Services of the Company, is a qualified person as such
term is defined under National Instrument 43-101 and has reviewed
and approved the technical information disclosed in this news
release.
Cautionary Statement on
Forward-Looking Information:
Certain of the information contained in this news release
constitutes "forward-looking information" and "forward-looking
statements" within the meaning of applicable Canadian and U.S.
securities laws ("forward-looking statements"), which involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results, performance and achievements to be
materially different from the results, performance or achievements
expressed or implied therein. Forward-looking statements, which are
all statements other than statements of historical fact, include,
but are not limited to, statements respecting the Company's
strategy and business plans. Forward-looking statements are based
upon certain assumptions and other important factors, including
assumptions relating to commodities prices and the business of the
Company. Forward-looking statements are subject to a number of
risks, uncertainties and other factors which may cause the actual
results to be materially different from those expressed or implied
by such forward-looking statements including, among others, risks
related to risks related to the operators of the projects in which
the Company holds interests, risks related to exploration,
development, permitting, infrastructure, operating or technical
difficulties on any such projects, the influence of macroeconomic
developments, the ability of the Company to carry out its
growth plans and other factors set forth in the Company's Annual
Report on Form 20-F and its other publicly filed documents under
its profiles at www.sedarplus.ca and www.sec.gov. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
does not undertake to update any forward-looking statements, except
in accordance with applicable securities laws.
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SOURCE Gold Royalty Corp.