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 (OTCQX: GDRZF) provided updates on the CITGO sale process, where its subsidiary Dalinar Energy's $7.382 billion bid for PDV Holding (PDVH) shares is under consideration. A competing bid from Amber Energy for $5.859 billion was disclosed by Red Tree Investments, prompting procedural delays.
The Special Master rescheduled the status conference to August 15, 2025, with the Sale Hearing initially set for August 18. Gold Reserve argues that Amber Energy's bid violates established procedures as it falls $1.523 billion below their recommended bid and doesn't meet the required overbid minimum.
Gold Reserve Ltd. (OTCQX: GDRZF) has filed a response to an unsolicited competing proposal in the CITGO sale process. The company clarified that any competing bid must meet specific requirements, including matching or exceeding Dalinar Energy's bid of $7.382 billion (valued as of June 30, 2026).
The competing proposal must also include an Overbid Minimum of $80 million ($30 million expense reimbursement to Dalinar Energy plus $50 million to Attached Judgment Creditors), pay a $75 million termination fee to Red Tree (Stalking Horse bidder), and provide a $50 million deposit. Gold Reserve emphasized that under Delaware law, they cannot be compelled to accept non-cash consideration as a senior creditor, and they have not agreed to accept such terms.
Gold Reserve Ltd. (OTCQX: GDRZF) announced that the Special Master has filed a notice regarding an unsolicited, competing proposal to purchase shares of PDV Holding, Inc. (PDVH), CITGO Petroleum Corp's indirect parent company. The Special Master has been authorized to engage with Bidder B and reactivate their access to the virtual data room since July 1, 2025.
While Bidder B is reportedly in active discussions with various required parties, the Special Master has not yet received documentation of any agreements. As such, the bid has not been deemed a Superior Proposal under the SPA terms. The complete details of the Delaware sale proceedings can be accessed through the Public Access to Court Electronic Records system.
Gold Reserve Ltd. (OTCQX: GDRZF) provided an update on the ongoing CITGO sale process in the U.S. District Court for the District of Delaware. The company's U.S. acquisition subsidiary, Dalinar Energy Corporation, has been recommended by the Special Master as the preferred buyer for PDV Holding, Inc. (PDVH), CITGO Petroleum Corp's indirect parent company.
Multiple parties have filed responses to objections regarding the Special Master's Final Recommendation, including Gold Reserve, Rusoro Mining, Koch Minerals, Siemens Energy, Crystallex International, ConocoPhillips, and others. Further briefings are scheduled for August 13 and August 16, 2025, leading up to the Sale Hearing on August 18, 2025.
Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) has announced a secondary listing of its common shares on the Bermuda Stock Exchange (BSX). The listing comprises 122,714,914 Common Shares and will commence trading on August 4, 2025 under the ticker BSX: GRZ.BH.
The company maintains its primary listing on the TSX Venture Exchange and continues to trade over the counter on OTCQX. Company Vice-Chair Paul Rivett expressed pride in joining the BSX, highlighting the exchange's global reputation and the company's integration into the Bermuda business community.
Gold Reserve (OTCQX: GDRZF) has successfully completed a private placement offering, raising US$30 million through the sale of 9,677,500 common shares at US$3.10 per share, including the full exercise of the over-allotment option. Cantor Fitzgerald Canada Corporation served as the sole agent, receiving a US$1.2 million commission.
The proceeds will primarily fund the company's credit bid for PDV Holdings, Inc., the indirect parent of CITGO Petroleum Corp. Two company insiders participated significantly, acquiring 3,774,000 shares for US$11.7 million. Following the offering, Gold Reserve's total outstanding common shares increased to 122,714,914.
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.