Gold Royalty Announces Closing Of IPO

(Gold Royalty Corp., 11.Mar.2021) — Gold Royalty Corp. and GoldMining Inc. announced the closing of GRC’s initial public offering of 18,000,000 units of GRC at a price of $5.00 per Unit.

The gross proceeds to GRC from the offering were $90mn. GRC plans to use the net proceeds from the offering to implement its growth and acquisition strategy and for other general working capital purposes.

H.C. Wainwright & Co. and BMO Capital Markets acted as the joint book-running managers and co-lead underwriters of a syndicate that included CIBC Capital Markets, Haywood Securities, Raymond James Ltd., Roth Capital Partners, Scotiabank, Sprott Capital Partners L.P. and TD Securities Inc. 

The common shares and warrants of GRC began trading on the NYSE American on 9 March 2021 under the tickers “GROY” and “GROY WS”, respectively.

On completion of the offering, GoldMining continues to hold 20,000,000 common shares of GRC, or approximately 49.0% of its outstanding common shares.

GRC has granted the underwriters a 30-day option to purchase up to an additional 2,700,000 common shares and/or up to 1,350,000 warrants at the initial public offering price, less underwriting discounts and commissions.

Registration statements have been filed with the U.S. Securities and Exchange Commission and became effective on 8 March 2021. GRC has also obtained a receipt for its final prospectus filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada, other than Québec on the date hereof. Copies of the prospectus may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by email to placements@hcwco.com; or BMO Capital Markets, 3 Times Square, 25th Floor, New York, NY 10036, Attn: Equity Syndicate Department, or by email to bmoprospectus@bmo.com.

H.C. Wainwright & Co., LLC and Roth Capital Partners, LLC are not registered as investment dealers in any Canadian jurisdictions and, accordingly, did not, directly or indirectly, solicit offers to purchase or sell Units in Canada.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of GRC, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

____________________