Gold Reserve Announces Further Extension of Expiration Date of
Offer for Remaining 5.50% Senior Subordinated Convertible Notes due
2022
SPOKANE, WA, Oct. 29, 2012 /CNW/ - Gold Reserve Inc. (TSX
VENTURE:GRZ) (NYSE-MKT:GRZ) (the "Company") announced today that it
is notifying holders of approximately 1.3% of its 5.50%
Senior Subordinated Convertible Notes due 2022 (the "Notes")
(representing $1,080,000 in aggregate
principal amount) of the further extension of the "Expiration Date"
of its offer ("Offer") to participate in a restructuring
transaction that has been agreed to with its four largest
Noteholders representing approximately 98.7% of the outstanding
Notes. The Company has extended the "Expiration Date" for the Offer
to 5:00 p.m., Eastern Time, on
November 5, 2012.
As of October 26, 2012, Notes in
the aggregate amount of $36,000 have
been tendered by the holders of the $1,080,000 of outstanding Notes that are not held
by the four largest Noteholders. The four largest Noteholders have
delivered their Notes to the Agent for the Offer. The terms and
conditions of the Offer were set forth in the Tender Offer
Statement filed on Schedule TO, and the letter of transmittal and
the related offer materials filed as exhibits, which were filed
with the Securities and Exchange Commission ("SEC") on September 18, 2012. The Company is filing
amendments to its Schedule TO, letter of transmittal and related
offer materials. The Offer, letters of transmittal and related
offer documents, as amended, may be obtained free of charge at the
SEC's website, www.sec.gov or by directing a request to the
Company.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
Further information regarding the Company can be located at
www.goldreserveinc.com, www.sec.gov and www.sedar.com.
"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."
SOURCE Gold Reserve Inc.