Business
Gold Reserve Inc. announces concurrent public offerings of common shares and convertible notes
Gold Reserve Inc. announces concurrent public offerings of common shares and convertible notes.
About this update from Gold Reserve Ltd.
[{"type":"text","content":"\n\n\n\nSPOKANE, WA, May 7 /CNW/ - Gold Reserve Inc. (TSX:GRZ - AMEX:GRZ)\nannounced today that it has filed preliminary short form prospectuses with\nCanadian securities regulators and related registration statements with the\nU.S. Securities and Exchange Commission under the U.S.-Canada\nmulti-jurisdictional disclosure system relating to proposed concurrent public\nofferings of 16,000,000 of its Class A common shares and US$75 million\naggregate principal amount of its senior subordinated convertible notes. The\nCompany has granted the underwriters an option for a period of 30 days to\npurchase up to an additional 2,400,000 Class A common shares and an option for\na period of 13 days to purchase up to an additional US$11,250,000 aggregate\nprincipal amount of its senior subordinated convertible notes, in each case,\nto cover over-allotments, if any. Neither offering is contingent on the\ncompletion of the other.\n\n\nThe Company intends to use the net proceeds from the offerings to fund\nconstruction activities, equipment purchases and ongoing development of its\nBrisas project.\n\n\nJ.P. Morgan Securities Inc. and RBC Capital Markets are acting as joint\nbook running managers for the common share offering and the notes offering\nwith Cormark Securities Inc. acting as co-manager.\n\n\nPreliminary short form prospectuses relating to these securities have\nbeen filed with each of the provincial securities regulatory authorities in\nCanada, except Quebec, and registration statements under the U.S.-Canada\nmulti-jurisdictional disclosure system have been filed with the U.S.\nSecurities and Exchange Commission, but have not yet become effective. These\nsecurities may not be sold nor may offers to buy be accepted prior to the time\nthe registration statements become effective. This press release shall not\nconstitute an offer to sell or the solicitation of an offer to buy nor shall\nthere be any sale of these securities in any state or province in which such\noffer, solicitation or sale would be unlawful prior to registration or\nqualification under the securities laws of any such state or province.\n\n\nCopies of the prospectuses relating to the shares and notes may be\nobtained from the underwriters or their respective U.S. or Canadian affiliates\nas follows: J.P. Morgan Securities Inc. at National Statement Processing,\nProspectu...