VANCOUVER, BC, Aug. 31, 2021 /CNW/ - Gold Royalty Corp.
("GRC" or the "Company") (NYSE American: GROY) is
pleased to announce a private placement in and strategic alliance
with Prospector Royalty Corp. ("PRC") and the addition of
Timothy Young to GRC's Advisory
Board.
GRC has made a C$2 million
investment for a 12.5% interest in PRC. The founders of PRC include
Timothy Young, Bill Rand, Zach
Flood, Francis MacDonald and
Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: NWRCF)
("Kenorland"). In conjunction with the investment, GRC has
entered into a royalty referral arrangement with PRC, which will
provide GRC with the opportunity to acquire certain royalties
identified by PRC's proprietary digitized royalty database.
David Garofalo, CEO, President
and Chairman of GRC, stated: "We are pleased to be forming a
strategic association with PRC and its founders Tim Young, Bill
Rand, Zach Flood,
Francis MacDonald and
Kenorland. Together with our prolific Nevada team, who joined GRC in the recent
merger with Ely Gold Royalties Inc. earlier this month, PRC will
give us peer-leading royalty generation intellectual
property. I am thrilled that Tim, a highly successful
prospector, will join Ian Telfer on
our Advisory Board and I am confident his contribution to GRC will
be significant as we move forward with our growth plans."
Tim Young stated: "Identifying
the right strategic partner to capitalize on our proprietary
digitized royalty generator model was of critical importance to me
and the PRC team. The investment by, and strategic alliance with,
GRC provides the perfect alignment for symbiotic growth in both
companies. We look forward to executing on our strategy at PRC with
the team at GRC. I am also excited to be joining Ian on the
Advisory Board at GRC and to further leveraging the already dynamic
growth and strong platform created since the formation of GRC, just
one year ago."
About Tim Young and PRC
Tim Young has over thirty years
of mineral exploration experience and enjoys a successful career in
prospecting, project generation, property and royalty
consolidations, acquisitions, sales and options. PRC is a
private company that provides GRC preferred access to a
proprietary, extensive and dynamic digitized royalty generator.
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. GRC's diversified portfolio currently includes of over
100 net smelter return royalties on gold properties located in the
Americas.
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") and 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. Such forward-looking statements,
including but not limited to statements relating to: the
expected benefits of the Company's strategic investment in PRC and
referral relationship between the parties and the Company's
business plans and strategies, involve 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. Such factors, include, among other
things, any ability of the parties to identify and complete
suitable acquisition opportunities; any inability of the operators
of the properties underlying Company's royalty and other interests
to execute proposed plans for such properties, risks related to
such operators or the exploration, development and mining
operations of the properties underlying Company's royalty and other
interests; impacts of macroeconomic developments as well as
the impact of and the responses of relevant governments to the
COVID-19 pandemic and the effectiveness of such responses; any
inability of the Company to carry out its growth plans and other
factors set forth in the Company's publicly filed documents under
its profiles at www.sedar.com 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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content:https://www.prnewswire.com/news-releases/gold-royalty-completes-strategic-investment-in-prospector-royalty-corp-301365701.html
SOURCE Gold Royalty Corp.
