Gold Reserve Inc. (GDRZF)

[xtyleradx]

Hopefully GBEI and MGCV get some love from this.

[deet49]

Does this suggest there is room at the back of the bus but not veri much more he says ....
https://www.reuters.com/markets/commodities/us-court-clears-altana-fund-participate-auction-shares-citgo-parent-2024-01-24/

Correct me if I'm wrong
GDRZF RMLFF
V.GRZ V.RML

[Enterprising Investor]

Agreed!

[deet49]

GDRZF GRZ.V Nothing could make me happier then for it to get FULL 100% compensation

An excellent barometer for RMLFF RML.V

[Enterprising Investor]

U.S. Supreme Court Denies Venezuela Leave to Appeal Order of Delaware Court and Gold Reserve Designated as Additional Judgement Creditor in Delaware Sale Process (1/09/24)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) (Gold Reserve or the Company) is pleased to announce that in separate decisions: (i) the U.S. Supreme Court has denied the request by the Bolivarian Republic of Venezuela (Venezuela) and Petroleos de Venezuela, S.A. (PDVSA) for permission to appeal the order issued on July 7, 2023 by the U.S. Court of Appeals for the Third Circuit that affirmed the decision of the U.S. District Court of Delaware (the Delaware Court) granting the Company a conditional writ of attachment of the shares of PDV Holding, Inc. (PDVH), the indirect parent company of CITGO Petroleum Corp.; and (ii) the Delaware Court has designated the Company and certain other creditors of Venezuela as “Additional Judgment Creditors” for the purposes of the sale process (the Sale Process) currently underway with respect to the proposed auction of the shares of PDVH. These two decisions clear two significant steps for the Company in its efforts to collect its approximately U.S. $1.1 billion judgment (inclusive of interest) that is the subject of the Company’s litigation in Delaware. The Company currently has 99.5 million Class A Common Shares outstanding (107.3 million shares on a fully-diluted basis).

The Delaware Court previously held that the priority of judgments of Additional Judgment Creditors will be based on the date each such creditor filed a motion for a writ of attachment that was subsequently granted. According to a chart filed with the Delaware Court in December 2023 by the Special Master appointed to manage the Sale Process, there are 12 judgments for which writs of attachment have been granted and for which the motions were filed before the Company’s motion. These judgments, according to the Special Master’s chart, represent an aggregate amount of U.S. $5.564 billion, inclusive of interest through August 2023. The Special Master noted that the amounts and priorities set forth in this chart have not yet been endorsed or validated by the Special Master.

The most recent order of the Delaware Court also confirmed that the designation of Gold Reserve and other creditors as Additional Judgment Creditors now sufficiently protects the Sale Process in the event of any settlement with Crystallex International Corp. and/or ConocoPhillips Company because Additional Judgment Creditors have rights under both the order appointing the Special Master for the Sale Process and the order under which the Sale Process is being carried out.

This release has been approved by Rockne J. Timm, CEO of the Company.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and sedarplus.ca.

https://www.businesswire.com/news/home/20240109209909/en/

[Enterprising Investor]

Gold Reserve Announces Retirement of Rockne Timm (11/27/23)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that Rockne J. Timm, Chief Executive Officer and a Director of the Company, will retire after more than 35 years of leadership. Mr. Timm’s retirement as Chief Executive Officer will be effective as of February 13, 2024, at which time he will also resign from any officer positions held by him in the Company’s subsidiaries but will continue to serve as a director of the Company and its subsidiaries.

James H. Coleman, Executive Chairman, said, “Rocky’s exceptional contributions over the years are innumerable. His focused leadership and strong work ethic have been invaluable to the development and success of the Company during times when we faced significant challenges. We had hoped that this day would not come, but after more than 35 years, Rocky has decided to enjoy a well-deserved retirement. He will be missed and we all wish him the very best in retirement. We also look forward to his continued support of the Company in his role as a director and a trusted advisor.”

The Company is currently working to identify a suitable successor to replace Mr. Timm.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and sedarplus.ca.

This release has been approved by Rockne J. Timm, CEO of the Company.

https://www.businesswire.com/news/home/20231127040664/en/Gold-Reserve-Announces-Retirement-of-Rockne-Timm

[xtyleradx]

Just waiting for the value from here to spill into the subsidiaries

[Enterprising Investor]

Gold Reserve Announces U.S. Delaware Court Issues Order Related to the PDVH Holding Sale Process (7/28/23)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) (Gold Reserve or the Company) announces that on July 27, 2023 the U.S. District Court for the District of Delaware (the Delaware Court ) issued a decision on certain issues concerning the PDVH sale process, including determining the process by which creditors of the Bolivarian Republic of Venezuela and Petroleos de Venezuela, S.A. (PDVSA) (collectively, the Creditors) can be named “Additional Judgment Creditors” and thereby participate in the previously announced sale process (the Sale Process) for the shares of PDV Holding, Inc. (PDVH), the indirect parent company of CITGO Petroleum Corp. The Delaware Court held that for a Creditor to be an Additional Judgment Creditor, it must obtain a conditional or unconditional writ of attachment from the Delaware Court. As previously disclosed, the Company obtained a conditional writ of attachment from the Delaware Court by order dated March 30, 2023.

The Delaware Court further held that the priority of judgments of Additional Judgment Creditors will be based on the date a Creditor filed a motion for a writ of attachment that was subsequently granted. The Company filed its motion on October 20, 2022. According to public records, there are 10 judgments for which writs of attachment have been granted and for which the motions were filed before the Company’s motion. These judgments, according to the Delaware Court’s present order, represent an aggregate principal amount of U.S. $4.684 billion, exclusive of interest.

As previously disclosed by the Company on May 3, 2023, the U.S. Office of Foreign Assets Control (OFAC) issued recent guidance that a licence will be required before any sale of PDVH shares can be executed.

Rockne J. Timm, CEO stated, “The decision by the Delaware Court is welcome but, at the same time, and subject to applicable sanctions laws in the U.S. and Canada, we are open to resolving amicably all of our pending issues with Venezuela. This includes, but is not limited to, our approximately U.S. $1 billion judgment (inclusive of interest) that is the subject of the Company’s litigation in Delaware, but also the recovery of our Bandes Trust funds and the more recent expropriation of the Siembra Minera mining rights.”

A copy of this recent decision of the Delaware Court can be accessed on the Company’s website at www.goldreserveinc.com.

https://www.businesswire.com/news/home/20230728941006/en/Gold-Reserve-Announces-U.S.-Delaware-Court-Issues-Order-Related-to-the-PDVH-Holding-Sale-Process

[Enterprising Investor]

U.S. Third Circuit Court of Appeals Affirms Previously Announced District Court Order Granted to Gold Reserve and Others (7/11/23)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) (Gold Reserve or the Company) announces that on July 7, 2023 the United States Court of Appeals for the Third Circuit (the Third Circuit) issued a judgment affirming the orders of the United States District Court for the District of Delaware (the Delaware Court) issued on March 23, 2023 and March 31, 2023 (see Gold Reserve’s press releases dated April 4, 2023 and May 3, 2023).

Rockne J. Timm, CEO stated, “The ruling by the Third Circuit is welcome but, at the same time, and subject to applicable sanctions laws in the U.S. and Canada, we are open to resolving amicably all of our pending issues with Venezuela. This includes, but is not limited to, our U.S. $996 million judgment (inclusive of interest) that is the subject of the Company’s litigation in Delaware, but also the recovery of our Bandes Trust funds and the more recent expropriation of the Siembra Minera mining rights.”

https://www.businesswire.com/news/home/20230711851491/en/U.S.-Third-Circuit-Court-of-Appeals-Affirms-Previously-Announced-District-Court-Order-Granted-to-Gold-Reserve-and-Others

12

[Enterprising Investor]

OFAC Publishes Guidance With Respect to Its Authorization of the Process to Be Used to Sell the Shares of CITGO’s Holding Company for the Potential Benefit of Certain Creditors of Venezuela Including Gold Reserve (5/03/23)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) (Gold Reserve or the Company) is pleased to announce that on May 1, 2023 the U.S. Office of Foreign Assets Control (OFAC) published guidance stating that it will not take enforcement action against individuals or entities participating in the previously announced sales process for the shares of PDV Holding, Inc. (PDVH), the indirect parent company of CITGO Petroleum Corp.

The sales process of the PDVH shares is being overseen by the United States District Court for the District of Delaware (the Delaware Court).

OFAC’s guidance confirmed that a license will be required before any sale of the PDVH shares is executed but it also stated that it intends to implement a favorable licensing policy in connection with any sale and that, in making these licensing determinations, it is “committed to fair and equivalent treatment of potential creditors.”

As previously announced by Gold Reserve, the Company was granted a conditional writ of attachment fieri facias by the Delaware Court allowing Gold Reserve to be treated the same as certain Other Creditors (as detailed in the applicable court documents filed with the Delaware Court) of the Bolivarian Republic of Venezuela (the Republic of Venezuela). On March 23, 2023, the Delaware Court granted the Other Creditors conditional writs of attachment regarding the shares of PDVH on the basis that Petroleos de Venezuela, S.A. (also known as PDVSA), the holding company of PDVH, is the alter ego of the Republic of Venezuela, and therefore its property is subject to attachment and execution by judgment creditors of the Republic of Venezuela.

Based on recent OFAC guidance, writs of attachment may now be filed for without prior OFAC authorization but, as noted above, any sale transactions in the PDVH shares will continue to require OFAC authorization.

Gold Reserve’s writ of attachment provides it with the opportunity to potentially enforce its September 2014 arbitral award and corresponding November 2015 U.S. judgement by participating in proceeds of the potential sale of the PDVH shares.

OFAC’s position concerning the sales process was reported (with additional guidance provided by OFAC thereafter) in the previously announced status report that was filed by the Special Master on April 30, 2023.

As previously announced, the Company and the Other Creditors have been directed by the Delaware Court to file a joint status report on May 5, 2023 to include a proposed briefing schedule for including additional judgements, such as the Company’s, in the existing sales process for the PDVH shares.

PDVSA has filed a notice of appeal in respect of the decision of the Delaware Court to grant the Company, and the Other Creditors, the writs of attachment fieri facias. It is expected that the resolution of such appeal will take between six to eighteen months, with no assurances as to timing or outcome. PDVSA filed a motion to stay the Company’s action (and actions of the Other Creditors) during the pendency of this appeal, but the Delaware Court denied that motion. PDVSA has now requested the same relief from the appellate court via an “emergency motion”.

Rockne J. Timm, CEO stated, “With OFAC’s guidance on this matter, we look forward to taking the next steps to have our Writ of Attachment filed and evaluating and entering the sales process to potentially enforce our September 2014 arbitral award and corresponding November 2015 U.S. judgement of approximately U.S $994 million (inclusive of interest). Also, the Company remains open in compliance with applicable U.S. and Canadian Sanctions, to resolving matters outside of our various legal cases with respect to the restoration of Siembra Minera’s mining rights, potential new arbitration related thereto and the collection of amounts owed to the Company.”

Further information on PDVH and CITGO Petroleum Corp.

PDVH is the indirect parent company of CITGO Petroleum Corp. Based on public disclosure, CITGO Petroleum Corp. operates three refineries in the U.S, and wholly and/or jointly owns 38 active terminals, six pipelines and three lubricants blending and packaging plants. CITGO Petroleum Corp. ranks itself as the fifth-largest independent refiner in the U.S. with approximately 3,300 employees and a combined crude capacity of approximately 769,000 barrels-per-day (bpd).

https://www.businesswire.com/news/home/20230503005969/en/

[Enterprising Investor]

Last Saturday marked four years since my last post.

Time flies.

[Enterprising Investor]

Gold Reserve Provides Update on Return of Capital Transaction (6/21/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSXV: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) completed its previously announced return of capital transaction (the “Return of Capital Transaction”) on June 14, 2019, by way of a court approved plan of arrangement (the “Arrangement”). As previously announced, the Arrangement became effective at 12:01 a.m. (Pacific time) on June 14, 2019 (the “Effective Time”).

As described in the Company’s management information circular dated April 30, 2019, following the Effective Time, registered holders of its Class A common shares (the “Class A Shares”) are required to deposit certificates representing Class A Shares together with a duly completed letter of transmittal to Computershare Trust Company of Canada (“Computershare”), the Company’s transfer agent and depositary for the Return of Capital Transaction, in order to receive the distribution payable pursuant to the Return of Capital Transaction.

Non-registered holders of Class A Shares will have the distribution payable pursuant to the Return of Capital Transaction recorded in their accounts by their intermediaries and should contact their intermediaries with any questions about this process.

In its press release dated June 14, 2019 (the “June 14 Release”), the Company inadvertently implied that a record date for the entitlement to receive the distribution payable pursuant to the Return of Capital Transaction was set as of the close of business on June 13, 2019. The Company retracts such statement in the June 14 Release.

Due to the inadvertent implication that a formal record date had been set, Gold Reserve will compensate anyone who can satisfactorily demonstrate that they disposed of their Class A Shares between the time of dissemination of the June 14 Release at 3:20 p.m. (Eastern time) and the close of trading on June 18, 2019, thereby disposing of their entitlement to receive the distribution payable pursuant to the Return of Capital Transaction. Such compensation, if any, would be up to an amount equal to the distribution payable pursuant to the Return of Capital Transaction, being US$0.76 per Class A Share. Any person believing these circumstances apply to them must contact Gold Reserve at the address set out below no later than July 19, 2019 in order to receive any applicable amount of compensation. Based on the limited trading volume of the Class A Shares during the applicable period of time, the Company anticipates that the aggregate amount of financial exposure resulting from this matter, if any, will be non-material to the Company.

Full details of the Return of Capital Transaction are described in the Company’s management proxy circular and other related materials, including the letter of transmittal. Those documents are available without charge on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and are posted on the Company’s website at www.goldreserveinc.com.

https://www.businesswire.com/news/home/20190621005430/en/Gold-Reserve-Update-Return-Capital-Transaction

[Enterprising Investor]

Gold Reserve Announces Completion of Return of Capital Transaction (6/14/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSXV: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce today the completion of the previously announced return of capital transaction (the “Return of Capital Transaction”) by way of a plan of arrangement (the “Arrangement”) pursuant to which Gold Reserve will return to holders (the “Shareholders”) of its Class A common shares (the “Class A Shares”) approximately US$75 million or approximately US$0.76 per Class A Share. The Arrangement was made effective at 12:01 (Pacific time) on June 14, 2019 (the “Effective Time”). Shareholders of record as of the close of business on June 13, 2019 are entitled to receive the distribution payable pursuant to the Return of Capital Transaction.

The completion of the Return of Capital Transaction follows the approval of the Return of Capital Transaction by Shareholders at the Company’s annual general and special meeting and the Company’s receipt of the final order of the Alberta Court of Queen’s Bench, both of which were obtained on June 13, 2019.

Registered Shareholders (those generally holding shares in their name) are required to deposit certificates representing Class A Shares together with a duly completed letter of transmittal to Computershare Trust Company of Canada (“Computershare”), the Company’s transfer agent and depositary for the Return of Capital Transaction, in order to receive the distribution payable pursuant to the Return of Capital Transaction. Non-registered Shareholders (generally those whose shares are held in brokerage accounts) will have the distribution payable pursuant to the Return of Capital Transaction recorded in their accounts by their intermediaries and should contact their intermediaries with any questions about this process. Shareholders whose certificates representing Class A Shares were received by Computershare prior to the Effective Time are expected to receive the distribution payable pursuant to the Return of Capital Transaction on or about June 19, 2019.

Full details of the Return of Capital Transaction are described in the Company’s management proxy circular and other related materials. Those documents are available without charge on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and are posted on the Company’s website at www.goldreserveinc.com.

https://www.businesswire.com/news/home/20190614005472/en/Gold-Reserve-Announces-Completion-Return-Capital-Transaction

[Enterprising Investor]

Gold Reserve Obtains Shareholder Approval and Final Order for Return of Capital Transaction (6/13/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSXV: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce that, at the annual general and special meeting of holders (the “Shareholders”) of its Class A common shares (the “Class A Shares”) held today (the “Meeting”), Shareholders overwhelmingly voted in favour of the special resolution (the “Arrangement Resolution”) to approve the previously announced return of capital transaction by way of a plan of arrangement (the “Return of Capital Transaction”). Subject to the terms and conditions of the plan of arrangement, Shareholders will receive approximately US$75 million, or approximately US$0.76 per Class A Share.

The Arrangement Resolution required approval by at least two-thirds of the votes cast by Shareholders present in person or represented by proxy at the Meeting. The Arrangement Resolution was approved by approximately 99% of the votes cast by all of the Shareholders eligible to vote at the Meeting.

Gold Reserve also obtained today the final order of the Alberta Court of Queen’s Bench which was required to complete the Return of Capital Transaction. It is expected that the Return of Capital Transaction will be completed on June 14, 2019. Full details of the Return of Capital Transaction are described in the Company’s management proxy circular and other related materials. Those documents are available without charge on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and are posted on the Company’s website at www.goldreserveinc.com.

In addition to approval of the Arrangement Resolution, Shareholders also elected James H. Coleman, Rockne J. Timm, A. Douglas Belanger, James P. Geyer, Jean Charles Potvin, Robert A. Cohen and James Michael Johnston as directors of Gold Reserve to hold office until the next annual meeting or until their successors are duly elected or appointed, appointed PricewaterhouseCoopers LLP as auditors of the Company and received the audited financial statements of the Company for the year ended December 31, 2018.

Registered Shareholders are required to submit a letter of transmittal to Computershare Trust Company of Canada, the Company’s transfer agent, to receive the distribution payable pursuant to the Return of Capital Transaction. Non-registered Shareholders will have the distribution payable pursuant to the Return of Capital Transaction recorded in their accounts by their intermediaries and should contact their intermediaries with any questions about this process.

https://www.businesswire.com/news/home/20190613005785/en/Gold-Reserve-Obtains-Shareholder-Approval-Final-Order

[Enterprising Investor]

Gold Reserve Provides Update on Previously Announced Return of Capital Transaction (4/18/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSXV: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is providing an update regarding its previously announced intention to return between US$90 and US$100 million in the aggregate to holders (the “Shareholders”) of its Class A common shares (the “Class A Shares”) pursuant to a return of capital transaction (the “Return of Capital Transaction”).

Following the Government of Canada’s decision on April 15, 2019 to impose sanctions against 43 additional individuals under the Special Economic Measures (Venezuela) Regulations of the Special Economic Measures Act, Gold Reserve’s board of directors (the “Board”) has determined that it is in the best interests of the Company and its Shareholders to reduce the aggregate amount of capital to be returned to Shareholders pursuant to the Return of Capital transaction to approximately US$75 million, or approximately US$0.76 per Class A Share.

The imposition of the April 15, 2019 sanctions poses a significant impediment to the Company’s ability to work with government officials related to the development of the Siembra Minera gold copper project, and the Company’s ability to work with government officials responsible for the payment and transfer of funds associated with the Settlement Agreement.

The Company expects to apply for a license from the US Treasury Department’s Office of Foreign Assets Control (OFAC) to allow the Company to pursue payments under the Settlement Agreement and allow international financial institutions to facilitate such transactions to North America at least in the near term without violating US sanctions on Venezuela. The Company may also pursue similar relief from sanctions imposed under Canadian law. There can be no assurance that the Company will obtain such relief or licenses.

Receipt of Interim Order

Gold Reserve is pleased to announce that it has obtained an interim order of the Alberta Court of Queen’s Bench (the “Court”) authorizing, among other things, the holding of the Company’s annual general and special meeting of Shareholders (the “Meeting”). At the Meeting, among other things, the Shareholders will be asked to consider and vote on a special resolution (the “Special Resolution”) approving a statutory plan of arrangement (the “Arrangement”) whereby, subject to the terms and conditions of the Arrangement, the Company will complete the distribution of US$75 million, or approximately US$0.76 per Class A Share pursuant to the Return of Capital Transaction.

The Meeting will be held on June 13, 2019 at 9:30 a.m. at 999 W. Riverside Avenue, 7th Floor, Masthead Suite, Spokane, Washington, USA. Meeting materials, including a notice of annual general and special meeting and information circular, will be mailed shortly to Shareholders of record as of the close of business on April 24, 2019. The meeting materials will also be available for review on the Company’s website at www.goldreserveinc.com under 2019 Annual Shareholder Meeting and under the Company’s profile on SEDAR at www.sedar.com.

Assuming approval of the Arrangement at the Meeting, the Company will return to the Court on June 13, 2019 to seek a final order to implement the Arrangement. Assuming such final order is obtained, the Company expects to implement the Arrangement and complete the Return of Capital Transaction on or about June 14, 2019 (the “Effective Date”). All registered and beneficial Shareholders as of the Effective Date will be entitled to receive the distribution of approximately US$0.76 per Class A Share to be made pursuant to the Return of Capital Transaction.

The Company’s board of directors has unanimously approved the Arrangement and recommends that Shareholders vote FOR the Special Resolution.

Full details of the Return of Capital Transaction will be described in the Company’s management information circular and other related materials. Those documents are expected to be mailed to Shareholders, filed with applicable Canadian securities regulatory authorities and made available without charge on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and posted on the Company’s website at www.goldreserveinc.com, on or about May 9, 2019.

https://www.businesswire.com/news/home/20190418005411/en/Gold-Reserve-Update-Previously-Announced-Return-Capital

[Enterprising Investor]

Gold Reserve Announces Blocking of Trust Account Held at Venezuelan Bank (3/27/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) reports that a trust account at Bandes Bank in Venezuela that holds approximately $21.5 million of the Company's funds has been blocked by the US Government under new US sanctions targeting certain Venezuelan financial institutions. On March 22, 2019, the US Treasury Department's Office of Foreign Assets Controls ("OFAC") designated Bandes Bank as a Specially Designated National ("SDN") pursuant to Executive Order 13850. The trust account at Bandes Bank is held by Gold Reserve's US subsidiary, Gold Reserve Corporation. As a result of the SDN designation of Bandes Bank, property in which an SDN has an interest and that is in the control or possession of a US Person such as Gold Reserve Corporation must be blocked and reported to OFAC. Gold Reserve is treating the Bandes Bank trust account as blocked property and will report the trust account and the funds therein as blocked property to OFAC as required by applicable regulations.

The trust account and funds will remain blocked property until OFAC delists Bandes Bank as an SDN or OFAC issues a specific license to Gold Reserve Corporation to unblock this property. Gold Reserve plans to submit a license application to OFAC to request the unblocking of the trust account and funds. The Company is not able to estimate how long OFAC may take to respond to the license application or to predict whether OFAC will grant the requested license.

https://www.businesswire.com/news/home/20190327005435/en/Gold-Reserve-Announces-Blocking-Trust-Account-Held

[Enterprising Investor]

Gold Reserve Announces Intention to Return Between US$90 Million and US$100 Million to Shareholders and Date for Annual General and Special Meeting of Shareholders (3/27/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSXV: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) today finalized its plan to distribute a portion of the funds received in connection with the July 2016 settlement agreement, as amended (the “Settlement Agreement”), pursuant to which the Bolivarian Republic of Venezuela (“Venezuela”) agreed to pay the Company $1.032 billion to satisfy the award (including interest) granted in the Company’s favour by the International Centre for Settlement of Investment Disputes and to purchase mining data related to the Company’s Brisas Project. To date, the Company has received approximately $276 million under the terms of the Settlement Agreement with approximately $756 million remaining to be paid by Venezuela.

The board of directors of the Company (the “Board”) has approved the distribution of between US$0.91 and US$1.01 in cash per Class A common share of the Company (the “Class A Shares”), or between approximately US$90 million and US$100 million in the aggregate, to holders of Class A Shares (the “Shareholders”) as a return of capital (the “Return of Capital Transaction”). A final decision on the amount to be distributed will be made closer to the date of the Company’s next meeting of Shareholders. The Return of Capital Transaction is intended to occur on a tax-efficient basis for Canadian income tax purposes.

The Return of Capital Transaction is to be completed pursuant to a court-approved plan of arrangement transaction under the Business Corporations Act (Alberta) and requires approval by the Alberta Court of Queen’s Bench (the “Court”) and at least two-thirds of the votes cast by Shareholders in respect of a special resolution. The Company will seek to obtain an interim order of the Court approving the Return of Capital Transaction on April 16, 2019. Shareholder approval will be sought at the Company’s annual and special meeting of Shareholders to be held at 999 W. Riverside Avenue, 7th Floor, Masthead Suite, Spokane, Washington, USA on June 13, 2019 at 9:30 a.m. (Pacific daylight time).

The Board is unanimously recommending that Shareholders vote in favor of the completion of the Return of Capital Transaction. If Shareholder and Court approval are obtained, Gold Reserve expects to effect the Return of Capital Transaction by the end of June 2019.

Full details of the Return of Capital Transaction will be described in the Company’s management proxy circular and other related materials. Those documents are expected to be mailed to Shareholders, filed with applicable Canadian securities regulatory authorities and made available without charge on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and posted on the Company’s website at www.goldreserveinc.com, on or about May 9, 2019.

https://www.businesswire.com/news/home/20190327005797/en/Gold-Reserve-Announces-Intention-Return-US90-Million

[Enterprising Investor]

Minimum distribution of $90 million or about $.90 per share.

[Enterprising Investor]

Gold Reserve Announces Shareholder Distribution (3/08/19)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) reports that it currently has a cash balance of $167 million (including $21.5 million held in Bandes Bank and from the sale of Venezuelan sovereign debt received in 2018) with current liabilities of approximately $3 million. The Board of Directors have decided to distribute to shareholders a minimum of $90 million with the final distribution amount and method (which may require shareholder and/or regulatory approvals) to be determined by the Board in the coming weeks.

In July 2016, we signed a Settlement Agreement, subsequently amended, whereby Venezuela agreed to pay the Company $1.032 billion to satisfy its ICSID Award (including interest) and to purchase our mining data related to the Brisas Project. The ICSID Award has been recognized in courts of the United States, France and Luxembourg and is not appealable by Venezuela.

The Company has received approximately $276 million under the terms of the Settlement Agreement with approximately $756 million remaining to be paid by Venezuela. Of the amount due, approximately $354 million is in arrears and if the Company determines an event of default, interest will accrue commencing July 2016 at Libor plus 2% on all unpaid amounts and the Company may recommence enforcement and collection of the Award.

https://www.businesswire.com/news/home/20190308005250/en/

[Enterprising Investor]

Gold Reserve to File Restated June 30, 2018 Financial Statements (11/15/18)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced that in the course of completing its interim consolidated financial statements for the period ended September 30, 2018, it was determined that there was an estimated $6.6 million overstatement of income tax expense and understatement of net income reported in the Company’s Consolidated Statement of Operations for the six months ended June 30, 2018.

The Company originally reported income tax expense of $19.1 million, net income of $57.5 million and earnings per share of $0.58 for the six months ended June 30, 2018 and a deferred tax liability of $9.3 million as of June 30, 2018. Based on the Company’s analysis, income tax expense, net income, earnings per share and deferred tax liability for the period are expected to be approximately $12.5 million, $64.1 million, $0.64 and $2.8 million, respectively. The overstatement resulted from an oversight in the allocation of revenue to tax jurisdictions with differing tax rates.

Management expects to complete its analysis and file its restated interim consolidated financial statements for the six months ended June 30, 2018 and related management’s discussion and analysis on or before November 29, 2018.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

https://www.businesswire.com/news/home/20181115005977/en/Gold-Reserve-File-Restated-June-30-2018

[Enterprising Investor]

Gold Reserve Receives Transfer from Venezuela (10/09/18)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) (“Gold Reserve” or the “Company”) is pleased to provide an update on the transfer of funds from BANDES Bank associated with the Company’s Settlement Agreement with Venezuela.

US $14.9 million has been transferred by BANDES Bank to the Company’s bank account in North America, leaving approximately US$22 million remaining in the Company’s trust account in Venezuela. Venezuela’s monthly payment obligations, pursuant to the Settlement Agreement, are in arrears by approximately US $206.5 million excluding the amount remaining in the Trust Account. The Company and Venezuela continue to work on satisfying the unpaid amounts.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

https://www.businesswire.com/news/home/20181009006161/en/Gold-Reserve-Receives-Transfer-Venezuela

[Enterprising Investor]

Gold Reserve Inc Posts 2Q Earnings Per Share of $0.61 (8/22/18)

https://www.sec.gov/Archives/edgar/data/1072725/000107272518000027/gdrzfform6kexhibit991082218.htm

[Enterprising Investor]

Gold Reserve Provides Venezuela Update (8/14/18)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to provide an update on the payments related tothe previously announced Settlement Agreement with Venezuela(“Settlement Agreement”).

Under the terms of the Settlement Agreement Venezuela agreed to pay GoldReserve a total of approximately US $1.032 billion, comprised ofapproximately US $792 million in satisfaction of the arbitral ICSIDAward granted in favor of the Company and US $240 million for the saleof the Company’s technical mining data related to the Siembra MineraProject. The Company received today Venezuelan government bonds with anestimated current market value of approximately US$88.5 million aspayment towards the December 2017 and January and February 2018 monthlyinstallments due under the Settlement Agreement. As a result of thispayment the Company has received an aggregate of US $276 million(including payments made to the Company’s trust account with Bandes Bankin Venezuela). Venezuela remains 5 months in arrears (at US $29.5million per month) on its obligations under the Settlement Agreement.The Company and Venezuela are continuing discussions to facilitate thepayment of the arrears and future payments.

In addition, approximately US $8 million previously tendered by theVenezuelan government was transferred recently from the Company’s trustaccount in Venezuela to its bank account in North America, leavingapproximately US$37 million remaining in the trust account.

Senior Management of Gold Reserve has been in Caracas working withVenezuelan officials on matters related to the development of the largescale Siembra Minera Project. In addition, the Company is also advancingvarious social works programs in the project area relating to therehabilitation of medical, educational, and recreational facilitiesalong with engineering work related to landfills, sewage collection,water distribution systems and related treatment plants to facilitatethe transition of the area to accommodate a nearby major miningoperation. The Company is currently transporting a large sample of thesurface saprolite material to the United States for metallurgicaltesting which will aid in the final engineering design of the EarlyWorks Project.

Doug Belanger, President, stated, “We are very pleased with the receiptof bonds which confirms our partner’s commitment to meet its obligationsand advance one of the largest undeveloped gold-copper projects in theworld, despite their economic challenges. We look forward to continueworking with Venezuela towards that goal.”

Canaccord Genuity Corp. has been retained by the Company to providefinancial advisory and other services with respect to the bonds.

For further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov,and www.sedar.com.

https://www.businesswire.com/news/home/20180814005612/en/

[Enterprising Investor]

Persons, firms or corporations that beneficially own 10% or more at 5/01/18

Steelhead Partners, LLC
10,499,924 shares
10.6%

Greywolf Capital Management LP
26,454,256
26.6%

https://www.sec.gov/Archives/edgar/data/1072725/000107272518000020/gdrzfform6kexhibit991051618.htm

[Enterprising Investor]

Gold Reserve Provides Update on Venezuela Activities (5/10/18)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce that the mixed company Empresa Mixta Ecosocialista Siembra Minera S .A. (“SM”), owned 45% by Gold Reserve and 55% by the Bolivarian Republic of Venezuela, has received the Permit to Effect for the Siembra Minera Gold Copper Project (the "SM Project") from the Venezuelan Ministry of the Environment. The SM Project is a gold-copper-silver deposit located in the Kilometer 88 mining district of Bolivar State in southeast Venezuela. On March 16, 2018, Gold Reserve published a 43-101 compliant Preliminary Economic Assessment on the SM Project which can be found at www.goldreserveinc.com, www.sedar.com or www.sec.gov.

The Permit to Effect will allow site clearing, construction of a temporary camp and warehouse facilities, drilling of dewatering and development drill holes, construction of access roads on the property, and opening of the quarry for construction aggregates. The quarry permit was previously received from Bolivar State in October, 2017. Additional permits and authorizations will be required to further develop the SM Project and these are scheduled to be requested during this early works stage. The Company is very pleased with the proactive approach to support the project and fast track the permitting process while respecting the environmental and mining laws of Venezuela.

The Company also announced that SM is launching social programs to improve the health care in the area, addressing the malaria problem with medicines and protective measures. This program also includes the rehabilitation and upgrading of schools and sports courts located in the vicinity of the project area and developing engineering assessments for future upgrades to the local communities' water supply and sewage system infrastructure.

On May 11, 2018 an inauguration ceremony on the property is expected to be held to mark the formal commencement of activities now that the Environmental Permit has been issued. The ceremony is to be attended by the Minister of the Environment, the Minister of Mines, the Bolivar State Governor the Commanders of the Army for Bolivar State and Commanders of the National Guard, along with representative of Sifontes Municipality, the surrounding communities and local labor leaders as well as representatives of Siembra Minera and the Company.

Minister of Mines Victor Cano stated, “The issuance of the Permit to Effect, which authorizes the start of the early works construction activities on the SM Project, is a major milestone for the project and the people of Venezuela. This will also have a major positive impact to the local community with many jobs, job training, better health care, and education for the children.”

Gold Reserve also announces that this week an additional US $13.6 million has been transferred to its bank account in North America from its Trust account in Venezuela.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov and www.sedar.com

https://www.businesswire.com/news/home/20180510006321/en/

[Enterprising Investor]

Gold and copper are safer sitting in the ground than in some vault in Caracas.

Thanks to the sanctions against Venezuela, it will take longer to collected the full $1.032 billion.

Someday, there will be a regime change. No one lives forever.

[JefftDecker]

been stalking GDRZF

but Venezuela such a sh!thole im wondering if this is safe.

ill keep tracking it and any trades will most likely
be short term. wouldnt have it any other way.

[Enterprising Investor]

Gold Reserve Provides Mineral Resource and Positive Preliminary Economic Assessment on Siembra Minera Project (3/19/18)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to provide the results of a Preliminary Economic Assessment (“PEA”) of the Siembra Minera Gold Copper Project (the "Project") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

The Project is a gold-copper-silver deposit located in the Kilometre 88 mining district of Bolivar State in southeast Venezuela, and is owned 45% by the Company and 55% by the Bolivarian Republic of Venezuela ("Venezuela"). The Project is expected to be a conventional truck and shovel open pit mining operation, utilizing hydraulic shovels and 236-tonne trucks as the primary mining equipment. The overall Project contemplates two plants: a smaller 15,000 tonne per day ("tpd") cyanidation plant (the "Small Plant") and a larger 140,000 tpd flotation plant (the "Large Plant"). The Small Plant is designed to recover gold from oxide saprolite and sulfide saprolite that contains low concentrations of copper and the Large Plant is designed to process hard rock material containing higher concentrations of copper as well as gold. The overall mine life is estimated to be 45 years after achieving commercial production of the Large Plant.

The Project is expected to begin with the Small Plant, which is estimated to take two years for detail design and construction while providing a platform for establishing the Project's operations and management group in advance of the Large Plant operation. The Small Plant, related mining equipment, initial tailings dam and infrastructure cost estimate is $295 million. It is expected to start producing gold at the end of a two-year construction period and generate approximately $40 million in annual cash flow. The Large Plant is expected to take an estimated four years for the completion of a final feasibility study, detail design and construction. Production is expected to begin approximately two years after completion of construction of the Small Plant. All amounts are in U.S. dollars.

[tables deleted]

Venezuela Minister of the People's Power for Ecological Mining Development Victor Cano stated, "This study is a confirmation of the tremendous economic value of the Mixed Company Ecosocialista Siembra Minera, S.A. mining project to the Venezuelan nation and our people. We look forward to the continued development of the project in an environmentally and socially responsible manner."

Gold Reserve President Doug Belanger added, "This study confirms that the Siembra Minera Project is one of the largest gold-copper deposits in the world with some of the lowest project operating costs for such a large project."

Gold Reserve is also pleased to report that the Company has recently transferred an additional $30 million from its trust account in Venezuela to its bank account in North America.

The next phase of the Project’s development is the detail design work for the Small Plant and related facilities in order to implement fast track development and production. In addition, we expect to initiate the feasibility study on the Large Plant and concurrent detailed engineering.

Proposals are currently being evaluated for a drilling program that is expected to commence in 2018 which will support the overall project development activities, water management wells, and test areas where additional resource potential is evident. Siembra Minera has also now established local management offices in Caracas and Puerto Ordaz.
The PEA will be available to the public at www.sedar.com and www.sec.gov, as well as the Company’s website at www.goldreserveinc.com within 45 days of the date of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov and www.sedar.com.

Technical Disclosure

The scientific and technical information contained in this release, including resource estimates, pit design, mine plan, flowsheet design, design criteria, project layout, infrastructure requirements, capital and operating estimates was prepared by Roscoe Postle Associates, Inc., Samuel Engineering Inc., Tierra Group International, Ltd, and AATA International, Inc. The Qualified Persons (as defined in NI 43-101) in respect of the PEA who have reviewed, verified and approved such information are Richard J. Lambert, P.E., P.Eng., José Texidor Carlsson, P.Geo., Grant A. Malensek, P.Eng., Hugo Miranda, C.P., and Kathleen A. Altman, Ph.D., P.E., each of whom is independent of the Company.

Mineral resource estimates reported herein have been classified as Measured, Indicated or Inferred based on the confidence of the input data, geological interpretation and grade estimation parameters. The Company is not currently aware of any known factors that are reasonably likely to have a negative material impact on the Company’s mineral resources. The mineral resource estimates were prepared in accordance with NI 43-101 and classifications adopted by the CIM Council.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

https://www.businesswire.com/news/home/20180319006306/en/Gold-Reserve-Mineral-Resource-Positive-Preliminary-Economic

[Enterprising Investor]

Interim Consolidated Financial Statements (11/22/17)

https://www.sec.gov/Archives/edgar/data/1072725/000107272517000047/grdzfform6kexhibit991112217.htm

[Enterprising Investor]

Gold Reserve Provides November Venezuela Update (11/22/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) reported on activities in Venezuela with respect to the Siembra Minera S.A. gold/copper/silver project (owned 45% by the Company and 55% by the Bolivarian Republic of Venezuela).

Gold Reserve, Siembra Minera S.A. and their technical consultants are working to complete the Preliminary Economic Assessment (“PEA”) in accordance with National Instrument 43-101. This study will include an up to date resource estimate, a mine plan including gold, copper and silver production, estimated capital and operating costs, and overall project schedule for both the planned early production 15,000 tonnes per day saprolite mill and the longer term 140,000 tonnes per day hard rock mill.

The Company is also pleased to report net income of US$34.3 million (US$0.36 per share) for the third quarter ended September 30, 2017, versus a US$5.6 million net loss (US$0.06 per share) for the same period in 2016. Revenues for the third quarter 2017 were US$88.5 million versus no revenues in the same period of 2016. For the nine months ended September 30, 2017 net income was US$81.8 million versus a net loss of US$15.1 million for the same period of 2016. Revenues for the nine months were US$187.5 million versus no revenues in the same period of 2016. The Company’s unaudited interim consolidated financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2017 have been filed and are available for review under the Company’s profiles at www.sedar.com and www.sec.gov.

The Company also announces that it has received the November installment payment of US$29.5 million pursuant to its Settlement Agreement with Venezuela. These funds were deposited into a trust account for the benefit of the Company at Banco de Desarrollo Económico y Social de Venezuela (“Bandes”), a Venezuelan state-owned economic and social development bank. As a result of the sanctions issued in August 2017, the U.S. government restricted the Venezuelan government’s access to the U.S. financial markets by filing executive orders barring, among other things, dealings in new bonds and stocks issued by the Venezuelan government and the state oil company and prohibiting Americans from doing business with them. Subsequent to the U.S. actions, Canada imposed its own sanctions. The sanctions imposed by the U.S. and Canada subsequently led international intermediary banks, which previously facilitated the transfer of funds from Bandes to the Company’s United States bank accounts, to decline to facilitate such transfers or put significant limitations on their participation. The Company and Venezuela have been working with various international banks to accomplish these transfers. Including the November 2017 payment, Gold Reserve has received an aggregate of US $187.5 million pursuant to the Settlement Agreement, of which US$99 million has been transferred to its U.S. bank account and US$88.5 million remains in the Bandes trust account.

Also as a result of the U.S. sanctions, the US$350 million in face value of debt securities that were intended to be pledged as collateral for a portion of the Settlement Agreement payments were not on the exempt list, and are therefore no longer marketable. The Venezuelan government is working to replace this collateral with something that is both acceptable to Gold Reserve and permitted under the sanctions.

Doug Belanger stated, “The government of Venezuela has assured the Company that it remains committed to the Siembra Minera Project and the terms of the Settlement Agreement with Gold Reserve and we are hopeful that the Company can work within the restrictions of the U.S. and Canadian sanctions to resolve the current situation.”

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov and www.sedar.com.

http://www.businesswire.com/news/home/20171122005639/en/Gold-Reserve-November-Venezuela-Update

[Enterprising Investor]

Gold Reserve Provides October Venezuela Update (10/13/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to provide an update on activities in Venezuela with respect to the Siembra Minera gold/copper/silver project (owned 45% by the Company and 55% by the Bolivarian Republic of Venezuela). Siembra Minera and its technical consultants are currently working to complete a Preliminary Economic Assessment (“PEA”) in accordance with National Instrument 43-101, which is expected to be finalized in early November. This study will include an up to date resource estimate, a mine plan including gold, copper and silver production, estimated capital and operating costs, and overall project schedule. The 43-101 report will detail the large 140,000 tonnes per day Siembra Minera project and will now also include the smaller fast track 15,000 tonnes per day saprolite project. The saprolite project tailings dam site selection and preliminary design work are complete with preliminary engineering of the saprolite plant nearing completion. Siembra Minera has also been working with its environmental consultants on the International Environmental and Social Impact Statement which will be prepared in accordance with the World Bank’s Equator Principles. Proposals are currently being evaluated for a drilling program expected to commence in early in 2018 that will support the overall project development activities, water management wells, and test areas where additional resource potential is evident. Siembra Minera has also now established local management offices in Caracas and Puerto Ordaz.

As part of the development process, the Company also reports that the Siembra Minera project has received two important permits to advance the mining projects. Recently, the Ministerio del Poder Popular para Ecosocialismo y Aguas (“MINEA” - Ministry of the Environment) issued the Permit to Occupy. This permit allows Siembra Minera to proceed to file its request for the Permit to Affect, which, when issued, will allow early works construction activities. To support the early works, the Bolivar State Mining Authority, Instituto Autónomo Minas Bolívar (“IAMIB”) has approved the issuance of a non-metallic mineral concession for the development of an aggregate quarry for the project. This permit will allow the mining of aggregate needed for roads, airstrip, initial rock base for the construction of the tailing dam and the production of concrete for overall construction of the projects.

The Company is also pleased to announce that it has received the October payment of US$29.5 million pursuant to the Settlement Agreement.

Doug Belanger, President, stated, “The progress on the project continues and the prompt receipt of the first permits is a big step forward in the development of the project in a timely fashion.”

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20171013005144/en/Gold-Reserve-October-Venezuela-Update

[Enterprising Investor]

Gold Reserve Provides September Venezuela Update (9/14/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to provide an update on current and ongoing activities in Venezuela with respect to the Siembra Minera gold/copper/silver project (owned 45% by the Company and 55% by the Bolivarian Republic of Venezuela) located in southeastern Venezuela. Engineering activities focused both on the early works saprolite gold plant and the primary gold/copper/silver plant are continuing with the completion of a Preliminary Economic Assessment (“PEA”) in accordance with National Instrument 43-101 expected in late October. In addition, Siembra Minera has held a number of recent meetings in the local area and at the mine site with the local and indigenous communities and small miners who have reacted positively to the project. New offices in Caracas and Puerto Ordaz are expected to be established in the coming weeks, as well as initial facilities at the project site. Siembra Minera expects to host project meetings in Caracas and Puerto Ordaz, as well as at the project site near Las Claritas in Bolivar State, in the coming weeks.

Onsite malaria abatement and treatment programs are continuing and are expected to be intensified in the coming months. Several permitting applications were submitted to various government agencies in August. Once issued, these permits will allow for early works related to the primary project as well as the fast tracking of the early works saprolite mill.

The Company’s annual meeting of shareholders was held on August 29, 2017 and all management proposals were passed. The Company has also reported second quarter 2017 after-tax profit of US$56.3 million (US$0.55 per share) versus a US$4.6 million loss (US$0.06 per share) for the first six months of 2016. Revenues were US$99.0 million versus no revenues in the same period of 2016.

The Company also announces that it has received the scheduled September installment payment of US$29.5 million from the Bolivarian Republic of Venezuela (“Venezuela”) pursuant to the Settlement Agreement between the Company and Venezuela.

Doug Belanger, President, stated, “We are pleased with the progress to date on the Siembra Minera Project and look forward to its presentation to the financial community when the 43-101 PEA is completed. The Company has received now over US$128 million from Venezuela as part of the settlement and we are very optimistic about our new partnership on the project.”

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170914006477/en/Gold-Reserve-September-Venezuela-Update

[Enterprising Investor]

Gold Reserve Provides Update on Annual Meeting Matters (8/23/17)

SPOKANE, Wash.--(BUSINESS WIRE)--The board of directors (the “Board”) of Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) ("Gold Reserve" or the "Company") is pleased to announce that the Company has reached separate agreements with each of Steelhead Partners, LLC (“Steelhead”) and Greywolf Capital Management LP (“Greywolf”), two of the Company’s largest shareholders, regarding how Steelhead and Greywolf, respectively, will vote the Class A common shares (the “Class A Shares”) over which they exercise control or direction with respect to the election of directors at the Company’s annual meeting of shareholders to be held on August 29, 2017 (the “Meeting”).

In particular, each of Greywolf and Steelhead has agreed to vote all of the Class A Shares over which it exercises control or direction for the following seven director nominees: Mr. Robert A. Cohen (a nominee of Greywolf), Mr. Michael Johnston (a nominee of Steelhead) and five members of the incumbent Board, being Messrs. Rockne J. Timm, A. Douglas Belanger, James P. Geyer, James H. Coleman and Jean Charles Potvin. In conjunction with such agreements, the name of Patrick D. McChesney, a director of the Company since 1988, will be withdrawn from consideration for re-election to the Board.

The Company has further agreed with each of Steelhead and Greywolf that following the Meeting, the Board will work with such shareholders to seek out and review potential candidates, mutually agreeable to such shareholders, to be appointed to the Board by the end of 2017. Once a candidate agreeable to such shareholders is identified, such person would be put forward to the Board to be appointed as a director at the request of such shareholders and an existing director will resign at that time.

James Coleman, Executive Chairman of the Board, stated, “We would also like to acknowledge the significant contributions Pat McChesney has provided over the many years as an officer and a director. Mr. McChesney’s wit, sound advice and steady hand will be missed and we express our sincere thanks to him for his service and wish him all the best.”

As at July 10, 2017, the record date for the Meeting (the “Record Date”), Greywolf, on behalf of certain funds that it manages or advises, exercised control or direction over 23,544,147 Class A Shares (representing approximately 26.2% of the outstanding Class A Shares as at the Record Date) and Steelhead, on behalf of Steelhead Navigator Master, L.P (“Steelhead Navigator”) and another client, exercised control or direction over 7,331,701 Class A Shares (representing approximately 8.2% of the outstanding Class A Shares as at the Record Date).

Subsequent to the Record Date, Greywolf, on behalf of certain funds it manages or advises, or exercises control or direction over, acquired an additional 2,910,109 Class A shares upon the conversion of the principal amount of certain convertible debentures and Steelhead, on behalf of Steelhead Navigator, acquired control or direction over an additional 3,168,223 Class A Shares upon the conversion of the principal amount of certain convertible debentures. As a result of such conversions, Greywolf currently exercises control or direction over a total of 26,454,256 Class A Shares (27.1%) and Steelhead currently exercises control or direction over a total of 10,499,924 Class A Shares (10.8%).
Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170823005849/en/Gold-Reserve-Update-Annual-Meeting-Matters

[Enterprising Investor]

Gold Reserve Completes Redemption of Outstanding 11% Convertible Notes and Provides a Venezuelan Update (8/11/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce that on August 10, 2017 it completed its previously announced redemption of its outstanding senior notes. The Company also announces that it has received the scheduled August payment of US$29.5 million under the terms of the Settlement Agreement with Venezuela.

Also, on August 10, 2017 the Company shares commenced quotation on the OTCQX System which will give real time trading data for investors in the United States and increase the Company’s visibility in the market.

The Company redeemed approximately US $30.8 million in aggregate principal amount of its outstanding senior notes, comprising approximately US $10.4 million of its 11% Senior Secured Convertible Notes due 2018 (the “Convertible Notes”) and approximately US $4.8 million of its 11% Senior Secured Interest Notes due 2018 (the “Interest Notes” and together with the Convertible Notes, the “Notes”). In addition, certain noteholders, at their election, have converted approximately US $15.6 million aggregate principal amount of Notes.

The Notes were redeemed for cash at a redemption price of 120% of the outstanding principal amount of the redeemed notes plus accrued interest to the redemption date. Accordingly, the total redemption price paid by the Company included approximately US $17.8 million related to the redemption premium and accrued and unpaid interest on the Notes. The redemption was made pursuant to the indenture governing the Notes and the terms of the notice of redemption. As a result of receiving the August payment from Venezuela and the redemption of the Notes, the Company currently has approximately US $80.4 million in cash.

The Company issued approximately 5.2 million additional Class A common shares in connection with the conversions described above, resulting in approximately 97.5 million shares outstanding.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170811005066/en/Gold-Reserve-Completes-Redemption-Outstanding-11-Convertible

[Enterprising Investor]

Gold Reserve Issues Notice of Full Redemption of Outstanding Notes (7/21/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) (“Gold Reserve” or the “Company”) today announced that it has given notice to its noteholders that it will redeem in full on August 10, 2017 (the “Redemption Date”) all of its remaining 11% Senior Secured Convertible Notes due 2018 (the “Convertible Notes”) and 11% Senior Secured Interest Notes due 2018 (together with the Convertible Notes,” the “Notes”), for an amount of cash equal to 120% of the outstanding principal amount of the Notes plus accrued interest to the Redemption Date. There are currently approximately US $30.8 million aggregate principal amount of Notes outstanding.

On July 11, 2017, the Company announced the receipt of the first installment payment of US $29.5 million pursuant to the terms of the settlement agreement (the “Settlement Agreement”) between the Company and the Bolivarian Republic of Venezuela (“Venezuela”). Pursuant to the terms of the indenture governing the Notes, receipt of the installment payment obligates Gold Reserve to apply such proceeds toward the redemption of the outstanding Notes. Based on the total funds received to date and the Company’s resulting net cash position and expected tax obligations, the Company is able to call for full redemption of the remaining outstanding Notes pursuant to the terms of the indenture.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170721005594/en/Gold-Reserve-Issues-Notice-Full-Redemption-Outstanding

[Enterprising Investor]

Gold Reserve Completes Partial Redemption of Outstanding Notes (7/18/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce that on July 14, 2017 it completed its previously announced redemption of a portion of its outstanding senior notes which, together with the conversion of senior notes at the election of certain noteholders, has resulted in the Company reducing its outstanding debt by approximately US $28.3 million.

In connection with the partial redemption, the Company redeemed approximately US $21.1 million in aggregate principal amount of its outstanding senior notes, comprising approximately US $16.6 million of its 11% Senior Secured Convertible Notes due 2018 (the “Convertible Notes”) and approximately US $4.5 million of its 11% Senior Secured Interest Notes due 2018 (the “Interest Notes” and together with the Convertible Notes, the “Notes”). In addition, certain noteholders, at their election, have converted approximately US $7.2 million aggregate principal amount of Notes (including $6.6 million aggregate principal amount of Notes converted at the election of certain noteholders in lieu of the redemption of such Notes).

The Notes were redeemed for cash at a redemption price of 120% of the outstanding principal amount of the redeemed notes plus accrued interest to the redemption date. Accordingly, the total redemption price paid by the Company included approximately US $4.0 million related to the redemption premium and accrued and unpaid interest on the Notes. The redemption was made pursuant to the indenture governing the Notes and the terms of the notice of redemption.

Following the redemption and Note conversions described above, the Company has US $25.9 million and US $4.9 million of Convertible Notes and Interest Notes outstanding, respectively, for a combined total of approximately US $30.8 million. The Company issued approximately 2.4 million additional Class A common shares in connection with the conversions described above, resulting in approximately 92.3 million shares outstanding. In the event the remaining outstanding Convertible Notes are converted to Class A common shares, the Company would have approximately 100.9 million shares issued and outstanding.

Gold Reserve intends to apply the proceeds of additional payments received pursuant to its settlement agreement (the “Settlement Agreement”) with the Bolivarian Republic of Venezuela (“Venezuela”), net of applicable taxes, to redeem the remaining outstanding Notes in accordance with the requirements of the indenture, including the proceeds of the installment payment that the Company announced it had received on July 11, 2017.

http://www.businesswire.com/news/home/20170718006129/en/Gold-Reserve-Completes-Partial-Redemption-Outstanding-Notes

[norweger1979]

Gold Reserve Provides Venezuela Update (NR 17-08)


SPOKANE, Wash.--(BUSINESS WIRE)--July 11, 2017--
Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) ("Gold Reserve" or the "Company") is pleased to provide an update on current and ongoing activities in Venezuela on the Brisas Cristinas Gold Copper Project which is held by Empresa Mixta Ecosocialista Siembra Minera, S. A. ("Siembra Minera") which is owned 55% by Corporacion Venezolana de Mineria, S. A., a state-owned entity, and 45% by GR Mining (Barbados) Inc., a subsidiary of Gold Reserve.

Current and ongoing activities related to Brisas Cristinas Project:

-- Meetings have been held with the Ministry of Environment (MINEA) to "fast track" permitting as established in the Mining Arch Decree. Siembra Minera expects to receive initial permits in the immediate future and thereafter break ground to execute the Early-Works construction program with contractors mobilizing to the site shortly. Early work activities include site clearing, road work excavation and building, development of sediment control structures, and excavation for (1) overland conveyor
corridor, (2) powerline corridor, (3) process plant and man-camp areas, (4) tailings dam, (5) opening of the rock quarry and (6) drainage of pit areas.



-- The initiative to fast track saprolite production has been well received by MINEA as it should have a positive impact in remediating the area after 50 plus years of artisanal mining. Testing and saprolite process mill design is expected to commence shortly.



-- Siembra Minera's team of consulting experts are scheduled to visit the project area this week to conduct initial assessments and implementation of long-term small miner, indigenous and public community consultations on the project. In addition, the consultants will be accompanied by personnel from the Ministry of the Popular Power for Ecological Mining Development, Mission Piar, and MINEA.



-- Siembra Minera is also working with the local communities on developing a strategy to contain and eventually eradicate the current malaria epidemic.

The Company also reported today that it has received the second installment payment of $29.5 million pursuant to the terms of the Settlement Agreement between the Company and the Bolivarian Republic of Venezuela.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of applicable U.S. federal securities laws and "forward-looking information" within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve's and its management's intentions, hopes, beliefs, expectations or predictions for the future including without limitation statements with respect to the payments contemplated by the Settlement Agreement, as amended and the development of the Brisas Cristinas project, including the preparation of a revised feasibility study, a revised environmental impact statement and a Preliminary Economic Assessment ("PEA") for the project and the pursuit of financing arrangements by Siembra Minera S.A. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual outcomes, financial results, performance, or achievements of Gold Reserve to be materially different from our estimated outcomes, future results, performance, or achievements expressed or implied by those forward-looking statements, including without limitation the risk that Venezuela may not be able to fund the contemplated future payments to the Company pursuant to the Settlement Agreement, the risk that a revised feasibility study, a revised environmental impact statement and a PEA for the Brisas Cristinas project will not be completed within the time frames anticipated, the risk that Siembra Minera S.A. may not be able to arrange financing for the anticipated capital costs of the Brisas Cristinas project and the risk that the development of the Brisas Cristinas project may not proceed as anticipated.

This list is not exhaustive of the factors that may affect any of Gold Reserve's forward-looking statements. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by the Securities and Exchange Commission and applicable Canadian provincial and territorial securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170711005678/en/



CONTACT: Gold Reserve Inc.

A. Douglas Belanger, 509-623-1500

President

Fax: [phone]



SOURCE: Gold Reserve Inc.

Copyright Business Wire 2017



(END) Dow Jones Newswires

July 11, 2017 08:00 ET (12:00 GMT)

[norweger1979]

GDRZF $3.77

another solid high volume trading day

Gold Reserve, Inc. (GDRZF)
3.773 ? 0.045 (1.21%)
Volume: 62,939 @ 4:02:26 PM ET

[norweger1979]

GDRZF $3.707

Volume as of 11.50a.m. 26,048 shares up 33.22%


with no news event we might see some debt investors swapping into the equity as their debt investments gets called. The debt investors have been believers in Gold Reserve for a long time so as they get their money back it would make sense to participate on the equity side for further upside from here, IMO

good luck

[Enterprising Investor]

Gold Reserve Provides Venezuela Update (6/30/17)
SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) (“Gold Reserve” or the “Company”) is pleased to provide an update on the activities in Venezuela on the Brisas Cristinas Project which is owned 55% by Venezuela and 45% by a subsidiary of Gold Reserve (through their mixed company Empresa Mixta Ecosocialista Siembra Minera, S.A. (“Siembra Minera S.A.”). Gold Reserve and Venezuela have initiated activities to update the Feasibility Study and the Environmental Impact Statement previously prepared to include the expanded project with updated capital and operating costs. A Preliminary Economic Assessment (“PEA”) is also being prepared to Canadian National Instrument 43-101 disclosure standards and is expected to be completed in a few months. In addition, Siembra Minera S.A. is in the process of obtaining the permits required to commence an early works program and a small miner program along with a fast track saprolite production plan ahead of the larger project. Contractors will be mobilizing to the site shortly to support these activities and begin early works. To support these activities Siembra Minera S.A. is pursuing various financing alternatives.

In addition, the Company is providing an update to the previously announced third amendment of the Settlement Agreement with Venezuela (the “Settlement Agreement”). Under the terms of the Settlement Agreement, Venezuela has agreed to pay Gold Reserve a total of approximately US $1,037 million, comprised of approximately US $797 million to satisfy the arbitral ICSID Award granted in favor of the Company and US $240 million for the Company’s technical mining data related to the Brisas property.

Gold Reserve has received an initial installment of US $40 million under the Settlement Agreement and is scheduled to receive 20 monthly payments of US $29.5 million and three monthly payments of US $40.8 million on or before the 10th day of each month starting on July 10, 2017, totalling approximately US $712 million. The final payment of US $285 million is scheduled to be paid on or before June 10, 2019. In addition, Venezuela will place Venezuelan financial instruments with a face value of US $350 million in trust as collateral for the future payments.

Gold Reserve will refrain from enforcing the Award as long as Venezuela is current in its obligations to the Company. In addition, Venezuela has agreed to permanently withdraw all legal proceedings seeking annulment.
Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170630005730/en/Gold-Reserve-Venezuela-Update/?feedref=JjAwJuNHiystnCoBq_hl-bNgknBQakQ2FGsSkk8fjL8eelEqyF0ptrXlRE6cwAawrCOi9QzgjCezTS3Nw_X6kJUrpSBm-Hav1w-UkdSlG3lzMb7Zumkf8ZB_1TYWKp6FRzAC4_rGwOLNoA4bcgbFNw==

[norweger1979]

Gold Reserve, Inc. (GDRZF)
2.7827 ? 0.0257 (0.93%)
Volume: 44,218 @ 11:38:33 AM ET


strong volume taking out offers, looks like a battle of opinion & risk of the current political situation in Venezuela!

You have patient buyers increasing their position after the first installment payment of $40 Million has been made and GDRZF is calling parts of their expensive debt (carrying 11% interest rate) vs. holders that don't trust the Venezuela govt unrest and reduce risk of possible change in govt along with changes to recent agreements.

Even in a govt. control change and possible new contract negotiations I expect at worst case scenario additional extensions. Patience should prevail and long term value wins

good luck

[Enterprising Investor]

Gold Reserve Issues Notice of Partial Redemption of Outstanding Notes (6/29/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) ("Gold Reserve" or the "Company") announced that it has given notice to its noteholders that it will redeem on July 14, 2017 (the “Redemption Date”) a total of US $27,500,000 aggregate principal amount of its outstanding 11% Senior Secured Convertible Notes due 2018 (the “Convertible Notes”) and 11% Senior Secured Interest Notes due 2018 (together with the Convertible Notes,” the “Notes”), for an amount of cash equal to 120% of the outstanding principal amount of the Notes to be redeemed, or US $33,000,000, plus accrued and unpaid interest to the Redemption Date.

On June 16, 2017, the Company announced the execution of an amendment to its settlement agreement (as amended to the date thereof, the “Settlement Agreement”) with the Bolivarian Republic of Venezuela (“Venezuela”) pursuant to which Venezuela has made an initial payment of US $40,000,000 (the “Initial Payment”). Pursuant to the terms of the indenture governing the Notes, receipt of the Initial Payment obligates Gold Reserve to redeem a portion of the outstanding Notes. As a result, the Company is using the proceeds from the Initial Payment, net of applicable taxes, to redeem a portion of the outstanding Notes. Because such proceeds are insufficient to redeem all of the outstanding Notes, a pro rata portion of the Notes will be redeemed from each holder. As additional payments are made by Venezuela pursuant to the Settlement Agreement, Gold Reserve intends to apply such proceeds to redeem the remaining outstanding Notes in accordance with the requirements of the indenture.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170629006214/en/Gold-Reserve-Issues-Notice-Partial-Redemption-Outstanding

[Enterprising Investor]

GDRZF (6/16/17)

GOLD RESERVE INC (GDRZF)
Last Trade [tick] 2.8400[+]
Volume 49,784
Net Change 0.7200
Net Change % 33.96%
52 Week High 5.5434 on 08/08/2016
52 Week Low 1.9426 on 06/08/2017
Day High 3.0058
Day Low 2.8000

[norweger1979]

Gold Reserve Receives First Payment from Venezuela

44 minutes ago - DJNF

SPOKANE, Wash.--(BUSINESS WIRE)--June 16, 2017--
Gold Reserve Inc. (TSX.V: GRZ) (OTC: GDRZF) ("Gold Reserve" or the "Company") today reported that it has entered into a further amendment to the settlement agreement (the "Settlement Agreement") previously entered into with the Bolivarian Republic of Venezuela ("Venezuela").

Under the terms of the amended Settlement Agreement, Venezuela will pay Gold Reserve a total of approximately US$1,032,000,000 as result of negotiations of the parties to satisfy the arbitral award granted in favor of the Company by the International Centre for Settlement Investment Disputes (the "Award"), including the price agreed for the mining data related to the Brisas property.

Venezuela has paid Gold Reserve an initial installment of US$40,000,000 and will pay the balance of the amount owing in installments (the "Installments") over approximately the next two years. The amended Settlement Agreement contemplates that Venezuela's obligations thereunder will be partially collateralized with Venezuelan sovereign debt.

This is an important milestone for not only Gold Reserve but for Venezuela. The Company would like to acknowledge the considerable efforts of its team and its Venezuela counterparts, who have worked extremely hard to bring this to a successful conclusion.

The Company and its Venezuela counterparts also ratify their commitment to move forward towards the future development and creation of the joint venture named Empresa Mixta Ecosocialista Siembra Minera, S.A., and continues to strengthen the Venezuelan productive economy through development of gold, copper and silver projects.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of applicable U.S. federal securities laws and "forward-looking information" within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve's and its management's intentions, hopes, beliefs, expectations or predictions for the future including without limitation statements with respect to the payments contemplated by the Settlement Agreement, as amended, the contemplated pledge of Venezuela debt securities as security for such payments and the development of the Brisas Cristinas project. Forward-looking statements are necessarily based upon number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual outcomes, financial results, performance, or achievements of Gold Reserve to be materially different from our estimated outcomes, future results, performance, or achievements expressed or implied by those forward-looking statements, including without limitation Venezuela's ability to fund the contemplated future payments to the Company pursuant to the Settlement Agreement, the uncertainty of the value of the Venezuela debt securities to be pledged to the Company in the event Venezuela defaults on its payment obligations, the risk that the Company may not receive interest payments on the debt securities in the amounts and on the schedule contemplated by such securities, the risk that Venezuela and the Company may not be able to arrange financing for the anticipated capital costs of the Brisas Cristinas project and the risk that the development of the Brisas Cristinas project may not proceed as anticipated.

This list is not exhaustive of the factors that may affect any of Gold Reserve's forward-looking statements. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by the Securities and Exchange Commission and applicable Canadian provincial and territorial securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170616005633/en/



CONTACT: Gold Reserve Inc.

A. Douglas Belanger, 509-623-1500

President

Fax: [phone]



SOURCE: Gold Reserve Inc.

Copyright Business Wire 2017



(END) Dow Jones Newswires

June 16, 2017 14:01 ET (18:01 GMT)

[norweger1979]

IIROC Trading Halt - GRZ
Canada NewsWire

VANCOUVER, June 15, 2017

VANCOUVER, June 15, 2017 /CNW/ - The following issues have been halted by IIROC:

Company: GOLD RESERVE INC

TSX-Venture Symbol: GRZ

Reason: At the Request of the Company Pending News

Halt Time (ET): 11:44 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/June2017/15/c3680.html

/CONTACT:

IIROC Inquiries 1-877-442-4322 (Option 2) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

/Web site: http://www.iiroc.ca/

Copyright CNW Group 2017



(END) Dow Jones Newswires

June 15, 2017 11:51 ET (15:51 GMT)

[Enterprising Investor]

Gold Reserve Announces Grant of Stock Options (2/17/17)

Gold Reserve Inc. (TSX.V: GRZ) (OTCQB: GDRZF) (“Gold Reserve” or the “Company”) announced the grant of 3,125,000 stock options to its officers and directors. In addition, a total of 1,902,500 stock options were granted to employees and consultants of the Company. In January, 1,469,500 stock options exercisable at US $2.89 expired. The stock options granted on February 16, 2017 are exercisable at US $3.15, have a 10-year term, and have been issued under the Company’s existing 2012 Equity Incentive Plan.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170217005774/en/Gold-Reserve-Announces-Grant-Stock-Options

[Enterprising Investor]

The Paris Court of Appeal Decides in Favor of Gold Reserve Inc. (2/07/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (“Gold Reserve” or the “Company”) announces that on February 7, 2017, the Paris Court of Appeal (the “Court”) rejected all of Venezuela’s arguments and issued a judgment dismissing the annulment applications filed by Venezuela pending before the French courts in relation to the arbitral award dated September 22, 2014 (the “Award”) rendered by the International Centre for Settlement of Investment Disputes (“ICSID”), against the Bolivarian Republic of Venezuela (“Venezuela”).

At the Court in October 2014 and January 2015, respectively, Venezuela filed annulment applications regarding the Award and regarding the December 15, 2014 arbitral decision dismissing its request for rectification (the “Decision”). During the same period, the Company applied to the Court for exequatur of the Award, which entails recognition and enforcement of the Award in France. The Court issued the exequatur on January 29, 2015 declaring the Award to be recognized and enforceable in France.

The Court considered and rejected each of the arguments raised by Venezuela, confirming that (a) the arbitral tribunal properly took jurisdiction over the matter, (b) the parties were treated equitably, and the rights of defense and the adversarial principles were respected, (c) the arbitral tribunal ruled within the mandate conferred upon it, and (d) the Award is not contrary to French international public policy.

As a result, the Court has dismissed the annulment applications filed by Venezuela, and therefore the Award in the amount of $713,032,000 USD plus interest remains enforceable in France. The Court also ordered Venezuela to pay an amount of €150,000 for the Company’s legal fees and costs. Venezuela can consider the option of appealing the judgment before the French Cour de cassation, which is the court of final resort in the French judicial system.

James Coleman, Chairman of the Board, stated, “Even though we prevailed in this matter we consider Venezuela our partner and look forward to satisfaction of the Settlement Agreement and advancing the development of the gold copper silver Siembra Minera Project (Brisas Cristinas).”

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170207006344/en/Paris-Court-Appeal-Decides-Favor-Gold-Reserve

[Enterprising Investor]

Gold Reserve Provides Update (2/06/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQB: GDRZF) (“Gold Reserve” or the “Company”) today reported that it has been in discussions with the Government of the Bolivarian Republic of Venezuela ("Venezuela") regarding payments that were due under the terms of the previously announced amended settlement agreement (the “Settlement Agreement”).

Gold Reserve’s executive committee members, James Coleman, Rockne Timm and Douglas Belanger, have been meeting in Caracas with senior Venezuelan officials. These officials indicated that the payment to Gold Reserve has been delayed due to certain procedures and processes which have slowed the completion of the related financing.

The parties previously agreed to temporarily refrain from enforcing the ICSID Award and from seeking the decision on the annulment of the Award. Notwithstanding Venezuela’s assurances to comply with the Settlement Agreement, the parties have agreed to have the Paris Court of Appeal issue its decision on Venezuela's motion for annulment on February 7, 2017. The Gold Reserve legal team believes that the motion should be denied and Gold Reserve’s arbitration award will be confirmed.

The Minister of the People’s Power for Ecological Mining Development, Roberto Mirabal and the Attorney General, Reinaldo Muñoz, also stated, “Venezuela expects to be in a condition to satisfy its obligations under the Settlement Agreement.” Mr. Mirabal further stated, “The Republic looks forward to continuing to move the gold copper silver Siembra Minera Project (Brisas Cristinas) forward, which will create many positive benefits for the region and the Republic."

James Coleman of Gold Reserve stated, “The settlement process has been long and at times difficult with our shareholders patiently waiting for completion. Although, the Company remains optimistic, it is well aware of the views of its stakeholders and is diligently working to complete the transaction as previously outlined in prior news releases. Accordingly, based on the Caracas meetings and the assurances set out herein, the Company believes that the Settlement Agreement will be respected and the terms satisfied.”

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170206006158/en/Gold-Reserve-Update

[Enterprising Investor]

Gold Reserve Announces Resignation of Board Member to Take Position with Trump Administration (1/24/17)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (“Gold Reserve” or the “Company”) today announced that Kenneth I. Juster has resigned, effective immediately, from the Board of Directors of the Company to take a position with the Donald J. Trump Administration as Deputy Assistant to the President for International Economic Affairs. Mr. Juster’s resignation from the Board is required as a result of his new position.

On behalf of the Board of Directors, management and shareholders, we want to thank Mr. Juster for his excellent counsel and contributions to the Company during a very important period in the Company’s history. We wish him great success in his new position at the White House.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20170124006620/en/Gold-Reserve-Announces-Resignation-Board-Member-Position

[Enterprising Investor]

Gold Reserve Reports on Pending Settlement Payment from Venezuela (12/16/16)

SPOKANE, Wash.--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (“Gold Reserve” or the “Company”) today reported that the government of the Bolivarian Republic of Venezuela has informed the Company that the payment of US$300 million that was due December 15, 2016 under the terms of the previously announced amended settlement agreement with the government is expected to be deposited in the Company’s bank accounts in the next few days. The Company will provide more information as it becomes available.

Further information regarding the Company can be located at www.goldreserveinc.com, www.sec.gov, and www.sedar.com.

http://www.businesswire.com/news/home/20161216005309/en/Gold-Reserve-Reports-Pending-Settlement-Payment-Venezuela