Gold Reserve Announces It Has Engaged Advisors to Arrange for Potential Financing in Connection With Its Previous Announced Potential Bid in Relation to the Sale of the Shares of PDV Holdings, Inc., Under the Delaware Proceedings
TORONTO--(BUSINESS WIRE)--Jun. 5, 2024-- Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced today that it has engaged advisors to arrange for potential debt and equity financing in connection with the Company’s previously announced Potential Bid (as defined below). There is no assurance that any such financing will occur.
As previously disclosed in its May 27, 2024 press release, the Company is evaluating and considering engaging in a potential transaction (the “Potential Transaction”) in relation to the sale of the common shares of PDV Holdings, Inc. (“PDVH”), the indirect parent company of CITGO Petroleum Corp (the “Sale Process”). The Potential Transaction may include the Company submitting a bid (a “Potential Bid”), either solely or jointly with certain undetermined parties, pursuant to the sales and bidding procedures managed by the Special Master of the U.S. District Court for the District of Delaware (the “Bidding Procedures”).
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities of the Company. Any such offering, if and when made, will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of such act.
On Behalf of the Board of Directors
Paul Rivett
Executive Vice-Chairman
