Queen's Road Capital Discloses 16.4M Share Stake in Gold Royalty Corp.

TL;DR

**Queen's Road Capital just revealed a huge 16.4M share stake in Gold Royalty Corp.**

AI Summary

Queen's Road Capital Investment Ltd., a Cayman Islands-based company, reported on January 24, 2024, that it beneficially owns 16,430,855 common shares of Gold Royalty Corp. This represents a significant stake, giving Queen's Road Capital sole voting and dispositive power over these shares as of December 15, 2023. For investors, this means a major institutional investor has a substantial interest in Gold Royalty Corp., potentially signaling confidence in the company's future or indicating a potential for influence on its operations.

Why It Matters

A large institutional stake can provide stability and signal confidence, but also means a single entity holds significant sway over company decisions.

Risk Assessment

Risk Level: medium — While a large institutional holder can be a positive, such a concentrated ownership could also lead to volatility if Queen's Road Capital decides to significantly alter its position.

Analyst Insight

Investors should monitor future filings from Queen's Road Capital Investment Ltd. for any changes in their stake, as significant buying or selling could impact Gold Royalty Corp.'s stock price.

Key Numbers

• 16,430,855 — Common Shares Owned (Represents the total number of Gold Royalty Corp. common shares beneficially owned by Queen's Road Capital Investment Ltd.)

Key Players & Entities

• Queen's Road Capital Investment Ltd. (company) — reporting person, beneficial owner of shares
• Gold Royalty Corp. (company) — subject company, issuer of common shares
• Cayman Islands (company) — place of organization for Queen's Road Capital Investment Ltd.
• 16,430,855 (dollar_amount) — number of common shares beneficially owned
• December 15, 2023 (person) — date of event requiring the filing
• January 24, 2024 (person) — filing date of the SC 13G

Forward-Looking Statements

• Queen's Road Capital Investment Ltd. will maintain its significant stake in Gold Royalty Corp. for the foreseeable future. (Queen's Road Capital Investment Ltd.) — medium confidence, target: 2025-01-24

FAQ

Key Financial Figures

• $30 million — a right to acquire upon conversion of US$30 million principal amount of the issuer’s
• $1.90 — entures are convertible at a price of US$1.90 per common share, and thus the reportin
• $1.75 — e Debentures at a redemption price of US$1.75 during the period from December 15, 202

Filing Documents

• ea192097-13gqueen_gold.htm (SC 13G) — 40KB
• 0001213900-24-005868.txt ( ) — 42KB

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 16,430,855 common shares (i) This number includes: 641,381 outstanding common shares, and 15,789,474 common shares that the reporting person has a right to acquire upon conversion of US$30 million principal amount of the issuer’s five-year, 10% unsecured convertible debentures (the “ Debentures ”). Rule 13d-3(d)(1) provides that securities are deemed to be beneficially owned if one has a right to acquire beneficial ownership of those securities within 60 days, including through the conversion of a security. The Debentures are convertible at a price of US$1.90 per common share, and thus the reporting person has the right to acquire 15,789,474 common shares upon conversion of the Debentures. (ii) This number does not include the common shares that will be issuable to the reporting person in the future in partial payment of interest on the Debentures. Interest is payable on the Debentures in quarterly installments in arrears on August 31, November 30, February 28 and May 31 of each year, with the first interest payment falling due on February 28, 2024. A portion of the interest (equal to 3% per annum) will be payable in common shares issuable at a price equal to the 20-day volume weighted average trading price (the “VWAP”) of the common shares on the exchange on which the common shares are trading that has the greatest trading volume, ending three trading days preceding the date such interest payment is due. In addition, if certain conditions are satisfied, QRC will have the right to redeem the Debentures at a redemption price of US$1.75 during the period from December 15, 2026 to December 31, 2026. (b) Percent of class: 10.18% This percentage was calculated based on a total of 145,669,046 shares outstanding as of December 16, 2023.

Ownership of 5 Percent or

Item 5. Ownership of 5 Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following .

Ownership of More than 5 Percent on Behalf of Another Person

Item 6. Ownership of More than 5 Percent on Behalf of Another Person. Not applicable.

Identification and Classification of the Subsidiary Which

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable.

Certifications

Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 5 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 24, 2024 QUEEN’S ROAD CAPITAL INVESTMENT LTD. By: /s/ Alex Granger Alex Granger, President 6

View Full Filing

View this SC 13G filing on SEC EDGAR