Exhibit 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
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 14, 2022. |
3. | News Release: |
On September 14, 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 14, 2022, the Company extended the maturity date of its existing US$25 million secured revolving credit facility with Bank of Montreal to March 31, 2025. |
5. | Full Description of Material Change: |
On September 14, 2022, the Company extended the maturity date of its existing US$25 million secured revolving credit facility with Bank of Montreal to March 31, 2025. The extended credit facility consists of a US$10 million secured revolving credit facility (the “Facility”), with an accordion feature providing for an additional US$15 million of availability. |
The Facility, secured against the assets of the Company, is available for general corporate purposes, acquisitions and investments, and bears interest at a rate determined by reference to the Base Rate plus a margin of 3.00% or Adjusted Term SOFR plus a margin of 4.00%, as applicable. The exercise of the Accordion is subject to certain additional conditions and the satisfaction of financial covenants. |
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 21, 2022. |