Articles from Gold Reserve Ltd.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that today the U.S. District Court for the District of Delaware (the “Court”) issued an order that further extended the Topping Period for submitting bids for the purchase of the shares of PDVH, the indirect holding company of Citgo Petroleum, to June 18, 2025. The order granted a motion by the Venezuela Parties (Citgo Petroleum, PDVH, PDVSA and the Republic of Venezuela) to extend the Topping Period, which motion was supported by Vitol, Inc., Rusoro Mining Ltd., the Company, and the Special Master appointed by the Court to oversee the sale process.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that today the U.S. District Court for the District of Delaware (the “Court”) issued an order that extended the Topping Period for submitting bids for the purchase of the shares of PDVH, the indirect holding company of Citgo Petroleum, from May 28, 2025, until at least June 2, 2025. The order was issued in response to a motion by the Venezuela Parties (Citgo Petroleum, PDVH, PDVSA and the Republic of Venezuela) to extend the Topping Period for at least twenty-one days, which motion subsequently was supported by Vitol, Inc., Rusoro Mining Ltd. and the Company.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that the U.S. District Court for the District of Delaware (the “Court”) issued an order adopting the Special Master’s recommendation to select the bid submitted by Red Tree as the stalking horse bid for the purchase of the shares of PDVH, the indirect holding company of Citgo Petroleum, and overruling objections to the same.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that today the U.S. District Court for the District of Delaware (the “Court”) issued a document stating that the Court was “inclined” to overrule the objections submitted by the Company and other parties to the Special Master’s recommendation to select the bid submitted by Red Tree as the stalking horse bid for the purchase of the shares of PDVH, the indirect holding company of Citgo Petroleum. The Court stated that this is not a final Order and that it is “subject to further consideration, including during and after the oral argument” scheduled for tomorrow, April 17, 2025. The Court also set out a series of questions that it encouraged all participants to be prepared to address at the oral argument.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that Gold Reserve, its consortium members and other parties have completed pre-hearing documents in connection with the April 17, 2025 hearing on the objections to the recommendation made by the Special Master to select the bid made by Red Tree Investments that was scheduled pursuant to an order issued by the U.S. District Court for the District of Delaware (the “Court”) on April 5, 2025. Copies of the pre-hearing documents can be found at https://goldreserve.bm/court-materials.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that on April 5, 2025 the U.S. District Court for the District of Delaware (the “Court”) issued an order scheduling a hearing on the objections to the recommendation made by the Special Master to select the bid made by Red Tree Investments, an indirect subsidiary of Contrarian Capital Management, LLC, to be the stalking horse bidder for the purchase of the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce an important development in its ongoing efforts to enforce its arbitral award dated September 22, 2014 (the “Award”) against the Bolivarian Republic of Venezuela (“Venezuela”). The present total amount owed under the Award, inclusive of interest, exceeds $1.1 billion.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that on March 31, 2025, multiple objections were filed in the U.S. District Court for the District of Delaware (the “Court”) to the recommendation made by the Special Master to select the $3.699 billion bid made by Red Tree Investments, an indirect subsidiary of Contrarian Capital Management, LLC (collectively, “Contrarian”), instead of the $7.1 billion bid by Dalinar Energy.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that the $7.1 billion bid, with fully committed financing from two large financial institutions, submitted by the Company’s US subsidiary, Dalinar Energy Corporation (“Dalinar Energy”), was not recommended by the Special Master as the “Stalking Horse” or the “Base Bid” for the purchase of the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp., in the sales process being conducted by the U.S. District Court for the District of Delaware (the “Court”).

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced that its Delaware subsidiary, Dalinar Energy Corporation (“Dalinar Energy”), submitted a bid on March 7, 2025 to be designated the Stalking Horse Bidder for the purchase of the shares of PDV Holding, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp., pursuant to the sales process being conducted by the U.S. District Court for the District of Delaware (the “Court”).

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce an important development in its ongoing efforts to recognize and enforce its arbitral award dated September 22, 2014 (the “Award”) against the Bolivarian Republic of Venezuela (“Venezuela”).

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) announces that it has responded to the November 14, 2024 proposal letter from the Canada Revenue Agency (CRA), strongly disputing all proposed adjustments.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) announces that as of January 1, 2025, the company is no longer a foreign private issuer from the perspective of the Securities and Exchange Commission (SEC). As such, the company would be required to file periodic reports with the SEC, including annual 10K, quarterly 10Q, and current 8K reports.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced that, at the annual general meeting of shareholders of the Company (“Shareholders”) held December 12, 2024 (the “Meeting”), Robert A. Cohen, Paul Rivett, James Michael Johnston, Yves M. Gagnon, James P. Tunkey, David A. Knight and Jonathan Howes were elected to the board of directors of Gold Reserve (the “Board”) to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed or their office is otherwise vacated.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that it received a letter dated November 14, 2024 (the “Proposal Letter”) from the Canada Revenue Agency (the “CRA”) advising that, subject to submissions by Gold Reserve, the CRA proposes to reassess the Company to include in its income certain amounts, including amounts in respect of the September 2014 arbitral award (“Arbitral Award”) and/or the Company’s settlement agreement with Bolivarian Republic of Venezuela. As previously disclosed, the Company has been under examination by the CRA in excess of three years. The Proposal Letter was received subsequent to the Company’s continuance from Alberta, Canada to Bermuda.

Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce the appointment of Paul Rivett as Chief Executive Officer of the Company, effective immediately. Mr. Rivett will continue to serve as a Director and as Executive Vice-Chairman of the board of directors of the Company.