Gold Royalty Corp. closes US $103.5 million bought deal public offering
Counsel to the Underwriters with respect to Gold Royalty Corp.’s US $103.5 million bought deal public offering
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Team Members
On December 11, 2025, Gold Royalty Corp. (“Gold Royalty”) completed a US $103.5 million bought-deal financing, issuing 25,875,000 common shares, including the exercise of the full over-allotment option, at a price of US $4.00 per share, for gross proceeds of US $103.5 million. The offering was led by National Bank Capital Markets, BMO Capital Markets, and RBC Capital Markets, which served as joint bookrunners acting on behalf of a syndicate of underwriters (the “Underwriters”).
Net proceeds are intended to fund all or a portion of the consideration for Gold Royalty’s acquisition of an existing royalty on the Pedra Branca copper and gold mine in Brazil from BlackRock World Mining Trust plc, and for general corporate purposes.
Gold Royalty Corp. is a gold-focused royalty company that invests in sustainable mining operations, aiming to build a diversified portfolio of precious metals royalties and streams across the Americas.
Miller Thomson advised the Underwriters with a team comprised of Andrew Powers, Jeffrey Gebert, Madison Derraugh and Wendy Wang (Capital Markets/Securities), Kathryn Walker (Tax), along with the assistance of Kobi Rosoph and Sean Kim (Articling Students).