Uranium Royalty Corp. (NASDAQ: UROY) (TSX: URC) (“URC” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by Canaccord Genuity Corp. as sole bookrunner, under which the underwriters have agreed to purchase, on a bought deal basis, 6,724,600 common shares (the “Common Shares”), at a price of US$3.40 per Common Share (the current approximate equivalent of C$4.76 per Common Share), for gross proceeds of approximately US$22.9 million (the “Offering”).

The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days after and including the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about February 9, 2024 and is subject to the Company receiving all necessary regulatory approvals.

The Company currently intends to use the net proceeds of the Offering to fund future royalty acquisitions and purchases of physical uranium.

The Common Shares will be offered by way of a prospectus supplement in all of the provinces and territories of Canada, other than Quebec, pursuant to the Company’s base shelf prospectus dated July 20, 2023, and will be offered in the United States pursuant to an effective registration statement filed under the Canada/U.S. multi-jurisdictional disclosure system (File No. 333-272534). Such documents will contain important information about the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.