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Gold Reserve issues statement on Shareholder Rights Plan
SPOKANE, WA, Feb. 3 /CNW/ - Gold Reserve Inc. (NYSE Alternext: GRZ) (TSX: GRZ) today issued the f...
About this update from Gold Reserve Ltd.
[{"type":"text","content":"\n\n\n\nSPOKANE, WA, Feb. 3 /CNW/ - Gold Reserve Inc. (NYSE Alternext: GRZ) (TSX:\nGRZ) today issued the following statement in connection with Rusoro Mining\nLtd.'s (TSX-V: RML) ("Rusoro") announcement that it intends to seek a hearing\nbefore the Ontario Securities Commission ("OSC") to cease trade the Gold\nReserve Shareholder Rights Plan (the "Rights Plan"). Rusoro made an\nunsolicited offer on December 15, 2008 (the "Offer") to acquire all of the\noutstanding shares and equity units of Gold Reserve in consideration for three\nshares of Rusoro for each Gold Reserve share tendered under the Offer:\n\n\n"In the event that a hearing proceeds before the OSC with respect to the\nRights Plan, we also intend to raise with the OSC the various significant\nand material deficiencies in the Offer documents and in Rusoro's public\nfilings, many of which are set out in our Directors Circular of\nDecember 30, 2008 and other public statements. Our shareholders have\nindicated overwhelmingly that they do not want the Offer to proceed. We\nare confident that our shareholders will continue to recognize that\nRusoro's Offer is opportunistic, financially inadequate and significantly\nundervalues Gold Reserve's assets and its overall contribution to the\nproposed combined company. Our Board and management team remain committed\nto ensuring that our shareholders receive full value for their\ninvestment. "\n\n\nGold Reserve urges its shareholders to REJECT Rusoro's opportunistic\nOffer and NOT TENDER any Gold Reserve shares into the Rusoro Offer.\n\n\nIf shareholders have already tendered any of their Gold Reserve shares,\nwe urge them to withdraw them immediately. Shareholders who have tendered Gold\nReserve shares into the Rusoro Offer and who wish to obtain assistance in\nwithdrawing their Gold Reserve shares are urged to contact their broker or\nLaurel Hill Advisory Group, the information agent retained by Gold Reserve, at\n1-888-295-4655.\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\nCertain statements included in this release may constitute\n"forward-looking statements". Forward-looking statements are necessarily based...