Gold Royalty Corp. (NYSEAM:GROY) entered into a binding purchase and sale agreement to acquire copper stream on the Vares Silver Project from OMF Fund III (CR) Ltd managed by Orion Resource Partners (USA), L.P. for $50.6 million on May 28, 2024. The consideration consists of $45 million in cash and $5 million in common equity for 2.906977 million shares of Gold Royalty Corp.

As part of the consideration, $50 million was paid towards assets. Gold Royalty Corp expects to fund the acquisition by means of its announced equity offering and borrowings under its revolving credit facility. As amended, the expanded credit facility will consist of a $30 million secured revolving credit facility with an accordion feature providing for an additional $5 million of availability subject to certain conditions.

As of May 31, 2024, Gold Royalty Corp. announced closing of its previously announced public offering of units of the Gold Royalty Corp. Pursuant to the Offering, the Gold Royalty Corp.

issued, on a bought deal basis, 20,058,300 Units, including 2,616,300 Units pursuant to the full exercise of the over-allotment option, at a price of $1.72 per Unit for aggregate gross proceeds of $34,500,276. The Offering was completed pursuant to an underwriting agreement dated May 28, 2024, between the Company and a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets Corp. as joint bookrunners, and including H.C. Wainwright & Co., LLC, Haywood Securities Inc., Raymond James Ltd. and Scotia Capital Inc. Transaction is materially accretive to Gold Royalty?s cash flow.