VANCOUVER, BC, March 11, 2021
/PRNewswire/ - Gold Royalty Corp. (NYSE American: GROY)
("GRC") and GoldMining Inc. (TSX: GOLD) (NYSE AMERICAN: GLDG)
("GoldMining") today announced the closing of GRC's initial public
offering of 18,000,000 units of GRC (the "Units") at a price
of US$5.00 per Unit.
The gross proceeds to GRC from the offering were US$90.0 million. GRC plans to use the net
proceeds from the offering to implement its growth and acquisition
strategy and for other general working capital purposes.
H.C. Wainwright & Co. and BMO Capital Markets acted as the
joint book-running managers and co-lead underwriters of a syndicate
that included CIBC Capital Markets, Haywood Securities, Raymond
James Ltd., Roth Capital Partners, Scotiabank, Sprott Capital
Partners L.P. and TD Securities Inc.
The common shares and warrants of GRC began trading on the NYSE
American on March 9, 2021 under the
tickers "GROY" and "GROY WS", respectively.
On completion of the offering, GoldMining continues to hold
20,000,000 common shares of GRC, or approximately 49.0% of its
outstanding common shares.
GRC has granted the underwriters a 30-day option to purchase up
to an additional 2,700,000 common shares and/or up to 1,350,000
warrants at the initial public offering price, less underwriting
discounts and commissions.
Registration statements have been filed with the U.S.
Securities and Exchange Commission and became effective on
March 8, 2021. GRC has also obtained
a receipt for its final prospectus filed with the securities
commissions or similar securities regulatory authorities in each of
the provinces and territories of Canada, other than Québec on the date hereof.
Copies of the prospectus may be obtained from H.C. Wainwright &
Co., LLC, 430 Park Avenue, 3rd Floor, New
York, NY 10022, or by email to placements@hcwco.com; or BMO
Capital Markets, 3 Times Square, 25th Floor, New York, NY 10036, Attn: Equity Syndicate
Department, or by email to bmoprospectus@bmo.com.
H.C. Wainwright & Co., LLC and Roth Capital Partners, LLC
are not registered as investment dealers in any Canadian
jurisdictions and, accordingly, did not, directly or indirectly,
solicit offers to purchase or sell Units in Canada.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities of GRC, and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of that
jurisdiction.
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty company offering
creative financing solutions to the metals and mining industry.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused
on the acquisition and development of gold assets in the Americas.
Through its disciplined acquisition strategy, GoldMining now
controls a diversified portfolio of resource-stage gold and
gold-copper projects in Canada,
U.S.A., Brazil, Colombia and Peru.
Forward Looking Statements
This press release contains certain forward-looking
statements, including forward-looking information within the
meanings of applicable Canadian securities laws. Such statements
include statements with regard to the expected use of proceeds of
the offering by GRC. Words such as "expects", "anticipates",
"plans" and "intends" or similar expressions are intended to
identify forward-looking statements. Forward-looking statements are
based on GoldMining's and GRC's current expectations and are
subject to inherent uncertainties, risks and assumptions that are
difficult to predict. Factors that could cause actual results to
differ include, but are not limited to, risks inherent in the
royalty and streaming business generally, any inability to identify
and/or complete additional acquisitions, the ability of the GRC to
obtain any necessary financing to complete additional acquisitions
or execute its business plans, changes in commodities prices and
the other risks factors that are described more fully in the
section titled "Risk Factors" in the final prospectus relating to
the offering, a copy of which is available on the SEDAR website at
www.sedar.com and on EDGAR under GRC's profile. Forward-looking
statements contained in this announcement are made as of this date,
and GRC undertakes no duty to update such information except as
required under applicable law.
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SOURCE GoldMining Inc.