Business
Gold Royalty Acquires 12 New Royalties in Prolific Abitibi Greenstone Belt and Enters Agreements to Generate Future Royalties
VANCOUVER, BC, Dec. 2, 2022 /CNW/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that it has entered into a
About this update from Gold Royalty Corp.
[{"type":"text","content":" VANCOUVER, BC, Dec. 2, 2022 /CNW/ - Gold Royalty Corp. (\"Gold Royalty\" or the \"Company\") (NYSE American: GROY) is pleased to announce that it has entered into an agreement with Val-d'Or Mining Corporation (TSXV: VZZ) (\"Val-d'Or Mining\") to sell and generate royalties on 12 prospective properties in Québec and Ontario (the \"VZZ Agreement\"). Under the VZZ Agreement, the Company will also retain a right of first refusal (\"ROFR\") on any royalty or similar interest sold by Val-d'Or Mining. Gold Royalty has also entered into a strategic alliance with International Prospect Ventures Ltd. (TSXV: IZZ) (\"International Prospect Ventures\") providing the Company with a ROFR on any royalty or similar interest sold by International Prospect Ventures in Australia (the \"IZZ Agreement\"). The strategic alliance also includes a royalty referral arrangement which will provide Gold Royalty with the opportunity to acquire certain royalties identified by International Prospect Ventures in Australia. The VZZ Agreement: Gold Royalty will divest the mineral rights and interests to Val-d'Or Mining and retain a 0.5% to 1.0% net smelter return (\"NSR\") royalty on the following properties located in Québec and Ontario: Bogside, Bogside NW, Cheechoo B East, Island 27, Matachewan, Munro, North Contact, Recession Larder, Riverside, Sharks, Smokehead and Titanic (together the \"Exploration Portfolio\"). Gold Royalty will assign to Val-d'Or Mining all rights, title, obligations and interests under the option agreement between a subsidiary of Gold Royalty and Eldorado Gold (Québec) Inc. (\"Eldorado\") dated October 8, 2021. Gold Royalty will divest the mineral rights and interests to Val-d'Or Mining and, subject to certain closing conditions, including but not limited to consent of the assignment from Eldorado, will retain rights to a 1.5% NSR royalty on all properties subject to joint venture agreements consisting of the Claw Lake, Cook Lake and Murdoch Creek properties in Ontario and the Perestroika Prospect in Québec (together the \"JV Exploration Portfolio\"). Gold Royalty will retain a ROFR on any royalty or similar interest that Val D'Or Mining intends to sell, transfer or otherwise dispose of. The ROFR is subject to Gold Royalty and its affiliates holding at least 10% of the outstanding common shares of Val-d'Or Mining. Gold Royalty currently...