Gold Reserve Inc. (GDRZF)

[Enterprising Investor]

Gold Reserve Provides Update on Previously Announced Private Placement (6/27/24)

TORONTO--(BUSINESS WIRE)--Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces today that it has been advised that Cantor Fitzgerald Canada Corporation (“CFCC”) has been successful in its marketing efforts and has closed the book on the Company’s previously announced private placement of Class A common shares (the “Common Shares”), including pursuant to the over-allotment option, for anticipated gross proceeds of up to US$36,000,000 at a price per Common Share of US$4.10 (the “Share Offering”), as previously announced in the Company’s press release dated June 25, 2024. The Share Offering is expected to be completed pursuant to a formal agency agreement to be entered into between the Company and CFCC, as lead agent and bookrunner.

The closing of the Share Offering is expected to occur on or about July 3, 2024 (the “Offering Closing Date”) and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange.

The securities referred to in this news release have not been and will not be registered under the U.S. Securities Act, or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board of Directors

Paul Rivett
Executive Vice-Chairman

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

https://www.businesswire.com/news/home/20240627637527/en/