Gold Royalty Provides Update on Proposed Acquisition
Gold Royalty Corp. (NYSE American: GROY) announced that its agreement to acquire a 1.2% net smelter return royalty on the Séguéla Project has been terminated. The termination resulted from the project owner exercising a right of first refusal to acquire the royalty on matching terms. Despite this setback, the Company maintains a strong balance sheet, holding approximately US$90 million in cash and no debt as of March 30, 2021.
- Strong balance sheet with approximately US$90 million in cash.
- No debt as of March 30, 2021.
- Termination of the acquisition agreement due to right of first refusal exercised by the project owner.
VANCOUVER, BC, March 31, 2021 /PRNewswire/ - Gold Royalty Corp. (the "Company) (NYSE American: GROY) today provided an update regarding its previously announced agreement (the "Agreement") to acquire a
As disclosed in the Company's news release dated March 17, 2021, completion of the transaction was conditional on the expiry of a right of first refusal held by the owner of the project underlying the royalty. The Company has received notice that the project owner has exercised such right to acquire the royalty on matching terms and, as a result, the Agreement has been terminated.
The Company has a strong balance sheet, with approximately US
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. The Company's diversified portfolio currently consists of net smelter return royalties ranging from
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SOURCE Gold Royalty Corp.
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