Gold Reserve Ltd. reports developments as a Bermuda public mineral exploration and development company with listings on the TSX Venture Exchange, Bermuda Stock Exchange and OTCQX under GDRZF. Its recurring updates center on Venezuelan mining interests, including efforts connected to the Siembra Minera project, an Alaskan property, and changes in mining-law and sanctions frameworks affecting potential gold and strategic-minerals activity.
Company news also covers capital-structure actions such as private placements, contingent value rights and bonus-plan settlements, proposed shareholder matters, and legal proceedings tied to Venezuelan assets. These updates frame Gold Reserve’s mineral-asset strategy, regulatory environment, and public-company financing activity.
Gold Reserve announced the successful marketing and book closure of its best efforts private placement of Class A common shares. The placement, including the over-allotment option, aims to raise up to $15 million at $3.50 per share. Cantor Fitzgerald Canada acted as the lead agent and bookrunner. The formal closing of the offering is expected around June 7, 2024, pending required regulatory approvals. The securities are not registered under U.S. securities laws and cannot be sold within the U.S. This announcement follows a previous press release from May 27, 2024.
Gold Reserve announced a private placement of up to US$10 million in Class A common shares at US$3.50 per share, with an over-allotment option that could raise an additional US$5 million. The offering, managed by an appointed agent, aims to fund a potential transaction involving the sale of PDV Holdings' shares, the parent company of CITGO Petroleum. Scheduled to close by June 7, 2024, it requires regulatory approvals, including from the TSX Venture Exchange. Proceeds will also cover working capital and corporate purposes if the transaction fails.
Gold Reserve has announced it will raise up to USD 65 million through various financing transactions to potentially bid for the shares of PDV Holdings under Delaware proceedings. This includes a private placement of Class A common shares to raise up to USD 10 million at USD 3.50 per share, with an over-allotment option increasing proceeds to USD 15 million. Additionally, the company secured a borrowing facility with Monarch Alternative Capital for up to USD 50 million. The funds will support a potential bid for PDVH shares or be used for general corporate purposes. The transactions are subject to regulatory approvals.
Gold Reserve Inc. (GDRZF) appoints Paul Rivett as Executive Vice-Chairman, granting him 750,000 stock options. The company also increases available shares under the 2012 Equity Incentive Plan to 14,932,307 and grants Rivett 2,500,000 conditional stock options.
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