Gold Reserve Offers Replace in CITGO Sale Course of: Gold Reserve Information Assertion in Help of Keep Pending Attraction
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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Firm”) pronounces that yesterday the Firm filed a Assertion in help of a keep pending enchantment with the U.S. Courtroom of Appeals for the Third Circuit (the “Third Circuit”) in reference to the continuing litigation arising from the proposed judicial sale of PDVH Shares.
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Gold Reserve’s submitting helps a pending movement to remain the current Order issued by the U.S. District Courtroom for the District of Delaware approving the sale of the PDVH Shares to Elliott/Amber Vitality, pending appellate overview. Gold Reserve argues that the sale course of was procedurally and substantively faulty, and {that a} keep is important to protect the established order whereas the Third Circuit considers the deserves of the pending appeals.
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A movement for keep pending enchantment has been filed by the Venezuela Events (the Opposition authorities of the Bolivarian Republic of Venezuela, Petróleos de Venezuela, S.A., PDV Holding, Inc., and CITGO Petroleum Company). Numerous events have filed responses opposing the Venezuela Events’ movement to remain, together with the next: (1) Crystallex Worldwide Company; (2) Crimson Tree Investments, LLC; (3) ConocoPhillips Appellees; (4) ACL1 Investments Ltd., ACL2 Investments Ltd., and LDO (Cayman) XVIII Ltd.; and (5) OI European Group B.V.
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High Tales
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A duplicate of the Firm’s submitting may be discovered right here.
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An entire description of the Delaware sale proceedings may be discovered on the Public Entry to Courtroom Digital Data system in Crystallex Worldwide Company v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its associated proceedings.
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Cautionary Assertion Relating to Ahead-Wanting statements
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This launch accommodates “forward-looking statements” inside the which means of relevant U.S. federal securities legal guidelines and “forward-looking data” inside the which means of relevant Canadian provincial and territorial securities legal guidelines and state Gold Reserve’s and its administration’s intentions, hopes, beliefs, expectations or predictions for the longer term. Ahead-looking statements are essentially primarily based upon a variety of estimates and assumptions that, whereas thought of cheap by administration presently, are inherently topic to vital enterprise, financial and aggressive uncertainties and contingencies. They’re ceaselessly characterised by phrases equivalent to “anticipates”, “plan”, “proceed”, “count on”, “mission”, “intend”, “consider”, “anticipate”, “estimate”, “could”, “will”, “potential”, “proposed”, “positioned” and different comparable phrases, or statements that sure occasions or circumstances “could” or “will” happen. Ahead-looking statements contained on this press launch embrace, however should not restricted to, statements referring to any bid submitted by the Firm for the acquisition of the PDVH shares (the “Bid”).
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We warning that such forward-looking statements contain identified and unknown dangers, uncertainties and different dangers that will trigger the precise occasions, outcomes or outcomes of Gold Reserve to be materially completely different from our estimated outcomes, outcomes, efficiency, or achievements expressed or implied by these forward-looking statements, together with however not restricted to: the proceeds from the Elliott/Amber Vitality bid, if it closes, won’t fulfill any quantities excellent beneath the Firm’s September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement; Gold Reserve could also be unsuccessful in any keep, enchantment or problem to the Courtroom’s November 25, 2025 Order and Opinion approving the Particular Grasp’s advice of the Elliott/Amber Vitality bid and rejecting objections to the identical, together with the objections made by Gold Reserve; that the Sale Course of could not lead to a sale of the PDVH shares to any particular person, together with Elliott/Amber Vitality or every other purchaser really helpful by the Particular Grasp or permitted by the Courtroom; that the Firm could forfeit any money quantity deposit made on account of failing to finish the Bid or in any other case; the flexibility to implement the writ of attachment granted to the Firm; the timing set for varied stories and/or different issues with respect to the Sale Course of is probably not met; the flexibility of the Firm to in any other case take part within the Sale Course of (and associated prices related therewith); the quantity, if any, of proceeds related to the Sale Course of; the competing claims of different collectors of Venezuela, PDVSA and the Firm, together with any curiosity on such collectors’ judgements and any precedence afforded thereto; uncertainties with respect to potential settlements between Venezuela and different collectors and the influence of any such settlements on the quantity of funds that could be accessible beneath the Sale Course of; and the ramifications of chapter with respect to the Sale Course of and/or the Firm’s claims, together with because of the precedence of different claims. This record is just not exhaustive of the components that will have an effect on any of the Firm’s forward-looking statements. For a extra detailed dialogue of the chance components affecting the Firm’s enterprise, see the Firm’s Administration’s Dialogue & Evaluation for the interval ended September 30, 2025 and different stories which were filed on SEDAR+ and can be found beneath the Firm’s profile at
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Traders are cautioned to not put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or individuals performing on its behalf are expressly certified of their entirety by this discover. Gold Reserve disclaims any intent or obligation to replace publicly or in any other case revise any forward-looking statements or the foregoing record of assumptions or components, whether or not because of new data, future occasions or in any other case, topic to its disclosure obligations beneath relevant guidelines promulgated by relevant Canadian provincial and territorial securities legal guidelines.
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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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For additional data relating to Dalinar Vitality, go to: https://www.dalinarenergy.com.
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For additional data relating to Gold Reserve Ltd., go to https://www.goldreserve.bm.
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View supply model on businesswire.com:
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A.S. Cooper Constructing, seventh Ground, 26 Reid Road, Hamilton, HM 11, Bermuda
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