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Gold Reserve enters into a supplemental warrant indenture to amend unlisted warrants
Gold Reserve enters into a supplemental warrant indenture to amend unlisted warrants.
About this update from Gold Reserve Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Nov. 7 /CNW/ - Gold Reserve Inc. (TSX:GRZ - AMEX:GRZ) announced\ntoday that it has entered into a supplemental warrant indenture to the warrant\nindenture dated November 4, 2004 between Gold Reserve Inc. (the \"Company\") and\nComputershare Trust Company of Canada governing the 2,680,500 Class A common\nshare purchase warrants (the \"Warrants\") issued by the Company amending the\nexercise price and expiry date of the Warrants.\nPrior to giving effect to the amendments, each Warrant was set to expire\nat 4:30 p.m. (Toronto time) on November 6, 2006 and entitled the holder\nthereof to acquire one Class A common share of the Company at a price of Cdn.\n$6.50. Effective at the close of business on November 6, 2006, but subject to\nthe receipt of Shareholder approval, the amendments have: (i) increased the\nexercise price of the Warrants to Cdn. $6.55; and (ii) extended the expiry\ndate of the Warrants to July 31, 2007.\nThere are no Warrants held, directly or indirectly, by insiders of the\nCompany.\nAs announced on October 31, 2006, the Company will be seeking shareholder\napproval for the amendments to the Warrants at the next annual meeting of\nshareholders anticipated to take place in the second quarter of next year. The\nWarrants will not be exercisable from 4:30 p.m. (Toronto time) on November 6,\n2006 (the date and time of their original expiry) until the date and time\nshareholders of the Company authorize the amendments to the Warrants. Should\nthe approval of shareholders of the Company not be obtained, the proposed\namendments to the Warrants will not be effective.\nThe certificates representing the Warrants prior to their amendments will\ncontinue to represent those Warrants as amended. At such time as a Warrant\nholder submits the certificate representing the Warrant prior to its amendment\nto Computershare Trust Company of Canada for transfer, a new certificate\nrepresenting the Warrant as amended will be issued.\n\nGold Reserve Inc. is a Canadian company which holds the rights to the\nBrisas gold/copper project and the Choco 5 gold exploration property in\nBolivar State, Venezuela.\n\nForward-Looking Statements\n\nCertain statements included herein, including those that express\nmanagement's expectations or estimates of our future performance or concerning\nthe Brisas Project, constitute \"forward-...