Exhibit 99.1
FORM 51-102F3
AMENDED AND RESTATED MATERIAL CHANGE REPORT
This Amended and Restated Material Change Report is being filed to correct a typographical error in the number of common shares to be issued under the transaction described in the material change report of Gold Royalty Corp. dated September 2, 2022.
1. | Name and Address of Company: |
GOLD ROYALTY CORP. | |
1830-1030 West Georgia Street | |
Vancouver, British Columbia V6E 2Y3 | |
2. | Date of Material Change: |
The material change described in this report occurred on September 1, 2022. | |
3. | News Release: |
On September 1, 2022, Gold Royalty Corp. (the “Company”) issued a news release (the “News Release”) through the facilities of Canada Newswire, a copy of which has been filed on the System for Electronic Document Analysis and Retrieval (SEDAR). | |
4. | Summary of Material Change: |
On September 1, 2022, the Company entered into a royalty purchase and sale agreement (the “Agreement”) with Nevada Gold Mines LLC (“NGM”) to acquire certain royalties on properties located in Nevada for total share consideration of US$27,500,000, being 9,393,681 common shares of the Company. | |
5. | Full Description of Material Change: |
On September 1, 2022, the Company entered into the Agreement with NGM to acquire the following royalties on properties located in Nevada for total share consideration of US$27,500,000 (the “Transaction”): |
● | a 10% Net Profits Interest royalty on the high-grade, producing Granite Creek Mine operated by i-80 Gold Corp., payable after 120,000 oz of gold or equivalent is cumulatively produced from the project; | |
● | a 2.00% Net Smelter Return royalty (“NSR”) on the Bald Mountain Mine operated by Kinross Gold Corporation, payable after 10 million ounces of gold have been produced from the properties; and | |
● | a 1.25% NSR on the Bald Mountain Joint Venture Zone also operated by Kinross, (collectively, the “Royalties”). |
Pursuant to the Agreement, the Company will acquire the Royalties for total consideration of US$27,500,000, which will be satisfied through the issuance to NGM of 9,393,681 common shares of the Company. | |
Closing of the Transaction is subject to customary conditions and is expected to complete on or about the end of the current quarter. | |
6. | Reliance on Subsection 7.1(2) of National Instrument 51-102 |
Not applicable. | |
7. | Omitted Information: |
Not applicable. | |
8. | Executive Officer: |
The following executive officer of the Company is knowledgeable about the material change and this report and may be contacted respecting the material change and this report: | |
Josephine Man | |
Chief Financial Officer | |
Telephone: (604) 396-3066 | |
9. | Date of Report: |
September 15, 2022. |