reports
Gold Reserve Announces Completion of Return of Capital Transaction
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 a...
Gold Reserve Obtains Shareholder Approval and Final Order for Return o...
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”). Subjec...
Gold Reserve Provides Update on Previously Announced Return of Capital...
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...
Gold Reserve Announces Intention to Return Between US$90 Million and U...
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 pur...
Gold Reserve Announces Blocking of Trust Account Held at Venezuelan Ba...
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. T...
Gold Reserve Announces Shareholder Distribution
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 b...
Gold Reserve Reports on Third Quarter Results
SPOKANE, Wash.--(BUSINESS WIRE)-- Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) today announced that for the nine months ended September 30, 2018 the Company had net earnings after tax of US$67.8 million or US$0.68 per share compared to US$81.8 million or US$0.89 per share in the same period of 2017. For the three months ended September 30, 2018 the Company had net earnings after tax of US$3.7 million or US$0.04 per share compared to US$34.3 million or US$0.36 per share in the same period of 2017. ...
Gold Reserve to File Restated June 30, 2018 Financial Statements
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 $1...
Gold Reserve Receives Transfer from Venezuela
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 ...
Gold Reserve Provides Venezuela Update
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 to the previously announced Settlement Agreement with Venezuela (“Settlement Agreement”). Under the terms of the Settlement Agreement Venezuela agreed to pay Gold Reserve a total of approximately US $1.032 billion, comprised of approximately US $792 million in satisfaction of the arbitral ICSID Award granted in favor of the Company and US $240 million for the...
Gold Reserve Provides Update on Venezuela Activities
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 S...
Gold Reserve Provides Mineral Resource and Positive Preliminary Econom...
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 th...
Gold Reserve Provides November Venezuela Update
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, ...
Gold Reserve Provides October Venezuela Update
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 stu...
Gold Reserve Provides September Venezuela Update
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 Econom...
Gold Reserve Provides Update on Annual Meeting Matters
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 ...
Gold Reserve Completes Redemption of Outstanding 11% Convertible Notes...
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 inves...
Gold Reserve Issues Notice of Full Redemption of Outstanding Notes
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 intere...
Gold Reserve Completes Partial Redemption of Outstanding Notes
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 ...
Gold Reserve Provides Venezuela Update (NR 17-08)
SPOKANE, Wash.--(BUSINESS WIRE)-- 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 Cristin...
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