Gold Royalty To Acquire Copper Stream On Vares Silver Project - Quick Facts

(RTTNews) - Gold Royalty Corp. (GROY) has entered into a binding purchase and sale agreement with OMF Fund III, an entity managed by Orion Mine Finance Management LP, to acquire a copper stream on the Vares Silver Project, operated by a subsidiary of Adriatic Metals plc located in Bosnia and Herzegovina. Gold Royalty will pay consideration to Orion of $50 million to acquire the Stream, consisting of $45 million payable in cash and $5 million to be satisfied by the issuance of 2,906,977 Gold Royalty shares.

Separately, Gold Royalty Corp. has entered into an agreement with National Bank Financial and BMO Capital Markets, as joint book-runners, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 17,442,000 units of Gold Royalty at a price of $1.72 per unit, for aggregate gross proceeds of approximately $30 million. The company plans to use the proceeds to fund a portion of the consideration for its acquisition of a copper stream in respect of the Vares Silver Project.