Gold Reserve reports on Rusoro and Endeavour applications seeking permission to appeal interlocutory injunctions

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[{"type":"text","content":"\n\n\n\nSPOKANE, WA, Feb. 19 /CNW/ - Gold Reserve Inc. (NYSE Alternext: GRZ)\n(TSX: GRZ) today announced that Rusoro Mining Ltd. (TSX-V: RML) ("Rusoro") and\nEndeavour International Financial Corporation ("Endeavour") have both served a\nmotion with the Ontario Superior Court of Justice seeking permission to appeal\nto the Divisional Court the February 10, 2009 order that was granted against\nthem. Rusoro and Endeavour are only able to appeal the interlocutory\ninjunction order if the Superior Court grants their motions for permission to\nappeal. The motions are scheduled to be heard in Toronto on April 2, 2009.\nGold Reserve will oppose the motions.\n\n\nThe appeal has been sought in respect of the following:\n\n- the interlocutory injunction restraining Rusoro from proceeding with\n any hostile takeover bid to acquire the shares of Gold Reserve until\n the conclusion and disposition at trial of the action commenced by\n Gold Reserve, and\n\n- the interlocutory injunction restraining Endeavour from having any\n involvement with a hostile takeover bid for Gold Reserve until the\n conclusion and disposition at trial of the action commenced by Gold\n Reserve.\n\n\nIf the motions for permission to appeal are granted, then a hearing on\nthe appeal would be held at a later time by the Divisional Court.\n\n\nFollowing the issuance of the interlocutory injunctions, Rusoro withdrew\nits hostile takeover bid for Gold Reserve class "A" common shares and equity\nunits on February 10, 2009.\n\n\nThe legal action commenced December 16, 2008 by Gold Reserve is ongoing.\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, while\nconsidered reasonable by management at this time, are inherently subject to\nsignificant business, economic and competitive uncertainties and\ncontingencies. We caution that such forward-looking statements involve known\nand unknown risks, uncertain...

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