Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Companyâ€) is pleased to report on developments in the proceedings instituted in the U.S. District Court for the District of Columbia to confirm the US $740 million arbitral award dated September 22, 2014 (the “Awardâ€), rendered against the Bolivarian Republic of Venezuela (“Venezuelaâ€). On March 27, 2015, the Court entered a default against Venezuela following its failure to file an appearance within the prescribed deadlines in the proceedings instituted by the Company. Legal History Leading up to the Default On November 26... [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) today announced that the Board of Directors has appointed Kenneth I. Juster as a director of the Company. Mr. Juster has over 30 years of experience as a senior business executive, senior law partner with international arbitration and execution of award experience, and senior U.S. Department of State official. Mr. Juster currently is a partner and managing [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) is pleased to report that following the January 8, 2015, hearing held before the Paris Court of Appeal, the Court today has granted the Company’s request for the exequatur, or recognition, of the Company’s ICSID Award as a judgment of the Court. The Court dismissed the Republic of Venezuela’s request to stay the execution of the Award pending the outcome of its [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) is pleased to report that a hearing was held today at the Paris Court of Appeal regarding the Company’s request for the exequatur, or recognition of the Company’s ICSID Award as a judgment of the Court. The Court is expected to issue its judgment on January 29, 2015. Should exequatur be granted, the Court is expected to also rule on the Republic of Venezuela’s [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) reports that, on December 15, 2014, the Tribunal in the International Centre for Settlement of Investment Disputes (“ICSID”) arbitration (Gold Reserve Inc. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/09/1) denied both parties’ requests for correction of the Award and reaffirmed its $713 million award (plus legal costs and interest) rendered in [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”), reports that on November 26, 2014 it filed, in the US District Court for the District of Columbia (“DDC”), a petition to confirm the US$ 713 million Award (the “Award”) plus costs dated September 22, 2014 in the arbitration before the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) against the Republic of Venezuela relating to [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) reports a number of developments since the issuance of the final Award on September 22, 2014, in the arbitration before the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) against the Republic of Venezuela relating to the Brisas Project. After the issuance of the Award, Gold Reserve sent a demand letter to Venezuela. Shortly [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) is pleased to announce that the three-member Tribunal at the World Bank’s International Center for the Settlement of Investment Disputes (“ICSID”) has awarded the Company $740.3 million in accordance with the provisions of the Canada–Venezuela Bilateral Investment Treaty (“BIT”). The Award represents $713 million for the fair market value of the Brisas Project, $22.3 million [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) is pleased to report that its shareholders overwhelmingly approved the continuance of the Company from the Yukon Territory to the Province of Alberta, Canada at the special meeting held for that purpose on September 5, 2014. The Company intends to complete all necessary filings to complete the continuance of the Company under the Alberta Business Corporations Act [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) announced today the granting of 25,000 stock options to each of the five independent directors and 185,000 stock options in total to certain management employees. The grant does not include the Chief Executive Officer or the President. The options are exercisable at US $4.02, have a grant date of July 25, 2014, with a 10-year term, and have been issued under the [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (the “Company”) is pleased to announce that the arbitral tribunal in the International Centre for Settlement of Investment Disputes (ICSID) case (Gold Reserve Inc. v. The Bolivarian Republic of Venezuela – Case No. ARB (AF)/09/1) has declared the proceedings closed in accordance with Article 44 of the Arbitration (Additional Facility) Rules. Gold Reserve claims damages arising [...]
Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (“ the “Company”) announces the closing of the previously announced financing of US $12 million of new convertible notes and the extension and modification of substantially all of the US$ 25.3 million outstanding principal amount of previously modified notes (collectively “the Notes”). Interest related to the Notes will be accrued and be capitalized quarterly at a rate of 11 [...]
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