Welcome to our dedicated page for Gold Reserve news (Ticker: GDRZF), a resource for investors and traders seeking the latest updates and insights on Gold Reserve stock.
Gold Reserve Ltd. (OTCQX: GDRZF) is a Bermuda-based, majority US-owned company associated with the gold ore mining industry and a long history of developing large gold and copper deposits in Venezuela. The Gold Reserve news feed on Stock Titan aggregates the Company’s public announcements, giving investors and observers a single place to review its latest legal, arbitration, tax, and corporate updates.
Recent Gold Reserve news has focused heavily on court proceedings in the United States related to the proposed judicial sale of PDV Holding, Inc. (PDVH) shares in Delaware. The Company has reported on its fully financed bid for the PDVH shares, its objections to the court’s approval of a lower-priced bid by Elliott/Amber Energy, and its subsequent notices of appeal, motions for stays, and other appellate steps in the U.S. Court of Appeals for the Third Circuit.
In addition to the PDVH sale process, Gold Reserve news items cover international arbitration outcomes, such as the favorable Final Award obtained by its affiliate against Banco De Desarrollo Economico Y Social De Venezuela (BANDES), and the Company’s plans to seek recovery of those awarded amounts through foreign courts. The feed also includes regulatory and tax developments, including the completion of a Canada Revenue Agency audit without net adjustments to its Canadian tax filings for the years under review.
Corporate governance and capital markets developments, such as stock option grants under the Company’s 2012 Equity Incentive Plan and commentary on the political and human rights situation in Venezuela, also appear in Gold Reserve’s releases. By following this page, readers can review the Company’s own descriptions of its evolving legal strategies, enforcement efforts, and corporate actions as they are publicly disclosed.
Gold Reserve Ltd. (OTCQX: GDRZF) provided an update on the CITGO sale process in the U.S. District Court for the District of Delaware. The company's U.S. acquisition subsidiary, Dalinar Energy Corporation, remains the only conforming bid for purchasing PDV Holding, Inc. (PDVH) shares, following Red Tree Investments LLC's withdrawal of its competing bid objection.
Several parties filed objection memoranda, including Crystallex International Corporation, ConocoPhillips companies, ACL1 companies, OI European Group B.V., Venezuela Parties, and 2020 bondholders. According to the Court's schedule, responses to objections are due by August 7, 2025, with further briefing before the August 18, 2025 Sale Hearing.
Gold Reserve (OTCQX: GDRZF) has announced a brokered private placement offering of Class A common shares to raise up to US$20.0 million at US$3.10 per share. The offering, led by Cantor Fitzgerald Canada Corporation, includes an over-allotment option that could increase total proceeds to US$30 million if fully exercised.
The proceeds will primarily fund the company's credit bid for PDV Holdings, Inc. shares, the indirect parent of CITGO Petroleum Corp., along with working capital needs. The offering is expected to close around July 31, 2025, subject to regulatory approvals. The Agent will receive a 6.0% commission on gross proceeds, with certain exceptions.
Gold Reserve (OTCQX: GDRZF) has secured a significant legal victory as Portugal's Supreme Court upheld the company's $1.1 billion international arbitration award against Venezuela. The court rejected Venezuela's sovereign immunity and public policy defenses, affirming the earlier Lisbon Court of Appeal's decision that confirmed the 2014 arbitration award.
Additionally, the company has been named as the Final Recommended Bidder for the sale of PDV Holdings shares, the indirect parent company of CITGO Petroleum Corp., in the U.S. District Court for Delaware. Any recovery from either the Portugal or Delaware proceedings may offset the amount recoverable in the other jurisdiction.
Gold Reserve (OTCQX: GDRZF) provided an update on the CITGO sale process, where its U.S. subsidiary Dalinar Energy Corporation was recommended by the Special Master to purchase PDV Holding (PDVH) shares, CITGO's indirect parent company.
Four parties filed notices of objection, including Red Tree Investments (former Stalking Horse Bidder), 2020 bondholders, PDVH/CITGO, and Crystallex International. ConocoPhillips filed a potential objection, while three other parties filed reservations of rights.
The Court schedule requires memoranda supporting objections by July 23, 2025, responses by August 6, 2025, with the Sale Hearing set for August 18, 2025. Limited discovery regarding objections will conclude on July 31, 2025.
Gold Reserve Ltd. (OTCQX: GDRZF) has announced a conference call scheduled for July 10, 2025, at 10:00 am EDT to discuss its subsidiary Dalinar Energy Corporation's US$7.382 billion bid to acquire PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp.
The company was recently named as the Final Recommended Bidder by the Special Master appointed by the U.S. District Court for the District of Delaware. The conference call will provide detailed information about the bid terms and include a Q&A session. A recording will be available on the company's website until July 25, 2025.
Gold Reserve (OTCQX: GDRZF) announced that its U.S. subsidiary, Dalinar Energy Corporation, has been selected as the Final Recommended Bidder to acquire PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp. The bid values the transaction at US$7.382 billion, significantly higher than the previous US$3.7 billion stalking horse bid.
Upon closing, Gold Reserve will own 44% of Dalinar's common equity (representing 85% of voting shares) and hold at least $150 million of $1.5 billion preferred equity securities. The bid is supported by a consortium including Rusoro Mining, Koch Minerals, Koch Nitrogen International, and Siemens Energy. Financing commitments have been secured from a consortium led by J.P. Morgan and TD Bank.
The Delaware Court will hold a Sale Hearing on August 18, 2025. The transaction remains subject to closing conditions and regulatory approvals, including OFAC approval.
Gold Reserve Ltd. (OTCQX: GDRZF) announced that its Delaware subsidiary, Dalinar Energy Corporation, has submitted a further revised topping bid to acquire PDV Holding, Inc. (PDVH), the indirect parent company of CITGO Petroleum Corp. This follows previous topping bids submitted on June 3 and June 18, 2025.
The bid terms remain confidential until the Special Master reviews all bids and makes a final recommendation to the Court by July 2, 2025. A sale hearing is scheduled for August 18, 2025. If selected and approved, the bid's consummation will require various closing conditions and regulatory approvals, including clearance from the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC).
Gold Reserve Ltd. (OTCQX: GDRZF) has filed an emergency letter request with the U.S. District Court for the District of Delaware regarding OFAC's issuance of General License 5S. The request comes after OFAC extended the suspension of the 2020 Bondholders' rights under their CITGO Holding shares pledge for another six months until December 20, 2025.
The Company is seeking court order for OFAC to clarify whether it plans to continue suspending GL-5 beyond the expected Sale Transaction closing. Gold Reserve believes OFAC's position on GL-5 suspension is clear, given its five-year suspension history and extension past the August 18 Sale Hearing date. The company argues this clarification would help maximize the value of the PDVH shares sale transaction.
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