Business
Gold Royalty Completes Strategic Investment in Prospector Royalty Corp.
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 strateg
About this update from Gold Royalty Corp.
[{"type":"text","content":" 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 royal...