DESIGNATED NEWS RELEASE
VANCOUVER, BC, May 23, 2023
/CNW/ - Gold Royalty Corp. (NYSE American: GROY)
("Gold Royalty" or the "Company") is pleased to
announce that its board of directors has declared the Company's
second quarter 2023 cash dividend of US$0.01 per common share. The dividend will be
paid on June 30, 2023 to shareholders
of record as of the close of business on June 20, 2023.
The dividend qualifies as an "eligible" dividend as defined in
the Income Tax Act (Canada). The
dividend is subject to customary Canadian withholding tax for
shareholders that are not resident in Canada. The Company's
dividend program contemplates quarterly dividends, the declaration,
timing, amount and payment of which will be subject to the
discretion and approval of the board of directors of the Company
based on relevant factors, including, among others, the Company's
financial condition and capital allocation plans.
Dividend Reinvestment
Plan
The Company reminds shareholders that it has implemented a
dividend reinvestment plan (the "DRIP").
In order to be eligible to participate in the DRIP for the
second quarter, registered shareholders, who have not already done
so, must complete the enrollment form via the link provided below,
which is also available on the Company's website, by 5:00 pm (EDT) on June 13,
2023. Beneficial shareholders will need to make arrangements
through their brokers and/or nominees sufficiently in advance of
such time.
The DRIP allows participating shareholders to reinvest some or
all their cash dividends into additional common shares, without
incurring any additional brokerage fees or commissions.
Participation in the DRIP is optional and will not affect
shareholders' cash dividends unless they elect to participate in
the DRIP.
For the purposes of this dividend, the Company has elected to
issue common shares under the DRIP through treasury at the Average
Market Price, as defined in the DRIP.
Participation in the
DRIP
Participation in the DRIP is available to shareholders residing
in (i) Canada; (ii) the United States; and (iii) all other
jurisdictions where such participation is not prohibited under
applicable law.
Registered Shareholders
Registered Shareholders may enroll in the DRIP by completing an
enrollment form, which is available on the Company's website at
http://www.goldroyalty.com/investors/dividends/ and following
the instructions therein.
Beneficial Shareholders
Beneficial shareholders should contact their financial
intermediary to seek enrollment. In order to participate in
the DRIP, a beneficial shareholder must either:
- arrange for their broker or other nominee to enroll in the DRIP
on their behalf; or
- transfer their common shares into their own name and enroll
directly in the DRIP as a registered shareholder.
Due to the rules and policies of The Depository Trust Company
("DTC"), in order to make an election under the DRIP,
beneficial shareholders that hold their common shares through a DTC
participant broker, will need to either cause their broker to
withdraw their shares from DTC and deposit them with the Clearing
and Depository Services, Inc.; or (ii) cause their broker to
register such shares directly in the name of such beneficial
shareholder. Such actions would need to be completed with
sufficient time to deliver elections prior to applicable deadlines
as set forth in the DRIP.
All shareholders considering enrollment in the DRIP should
carefully review the terms of the DRIP, a copy of which is
available at http://www.goldroyalty.com/investors/dividends/, and
consult with their advisors as to the implications of enrollment in
the DRIP.
This news release is not an offer to sell or a solicitation of
an offer of securities. The Company has filed a registration
statement relating to the DRIP with the U.S. Securities and
Exchange Commission, and electronic copies may be obtained under
the Company's profile on the U.S. Securities and Exchange
Commission's website at http://www.sec.gov or by
contacting the Company using the contact information below.
Shareholders with any questions regarding the DRIP and the
enrollment process may contact: info@goldroyalty.com.
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 invest in high-quality, sustainable, and responsible
mining operations to build a diversified portfolio of precious
metals royalty and streaming interests that generate superior
long-term returns for our shareholders. Gold Royalty's diversified
portfolio currently consists primarily of 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") 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 future dividends.
Forward-looking statements are based upon certain assumptions and
other important factors, including assumptions relating to
commodities prices, the projects underlying the Company's royalty
interests 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 the Company's
ability to satisfy the conditions and covenants necessary to
exercise the Accordion, and other factors set forth in the
Company's Annual Report on Form 20-F for the year ended
September 30, 2022 and its other
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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SOURCE Gold Royalty Corp.