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Gold Reserve granted interlocutory injunction restraining Rusoro take-over bid
SPOKANE, WA, Feb. 10 /CNW/ - Gold Reserve Inc. (NYSE Alternext: GRZ) (TSX: GRZ) announced today t...
About this update from Gold Reserve Ltd.
[{"type":"text","content":"\n\n\n\nSPOKANE, WA, Feb. 10 /CNW/ - Gold Reserve Inc. (NYSE Alternext: GRZ)\n(TSX: GRZ) announced today that the Ontario Superior Court of Justice has\ngranted an interlocutory injunction restraining Rusoro Mining Ltd. (TSX-V:\nRML) ("Rusoro") from proceeding with any hostile takeover bid to acquire the\nshares of Gold Reserve until the conclusion and disposition at trial of the\naction commenced by Gold Reserve.\n\n\nThe injunction was granted by the Court following a motion by Gold\nReserve on the basis that Rusoro had access to or benefited from the use of\nGold Reserve's confidential information as a result of Rusoro's relationship\nwith Endeavour Financial International Corporation (TSX: EDV) ("Endeavour").\n\n\nThe Court also issued an interlocutory injunction restraining Endeavour\nfrom having any involvement with a hostile takeover bid for Gold Reserve. The\nCourt further required that Rusoro, Endeavour and their agents return to Gold\nReserve both all the confidential information of Gold Reserve and also\nanything produced from that confidential information.\n\n\nDoug Belanger, President of Gold Reserve, said, "We are very pleased with\nthe Court's ruling and believe it is entirely appropriate in the\ncircumstances. We remain committed to ensuring that our shareholders receive\nfull value for their investment."\n\n\nAs previously announced on December 30, 2008, the Gold Reserve Board\nunanimously voted to reject Rusoro's hostile Offer and recommended that\nshareholders reject the Offer.\n\n\nGold Reserve shareholders who have already tendered shares to the Rusoro\nOffer do not need to take any action. Rusoro is obligated to return the shares\nto Gold Reserve shareholders. Shareholders who have questions can contact the\nCompany's information agent, Laurel Hill Advisory Group, at 1-888-295-4655.\n\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\n\nFORWARD-LOOKING STATEMENTS\n\n\nThis release contains forward-looking statements that may state Gold\nReserve's or its management's intentions, hopes, beliefs, expectations or\npredictions for the future. In this release, forward-looking statements are\nnecessarily based upon a number of estimates and assumptions that, wh...