Gold Reserve Shareholders Approve Restructuring of Debt and Results of Annual and Special Shareholder Meeting
29 Juni 2012 - 1:03AM
Business Wire
Gold Reserve Inc. (TSX VENTURE:GRZ) (NYSE-MKT:GRZ) (the
“Company”) announced today that the shareholders of the Company
overwhelmingly approved all items voted on at the Company’s Annual
and Special Meeting held yesterday, including the restructuring of
the Company’s 5.5% Senior Subordinated Convertible Notes due 2022
(the “Notes”).
The five matters voted on at the meeting included the election
of Directors, appointment of the auditors, approval of the Equity
Incentive Plan, approval of the Amendment to the Shareholder Rights
Plan, and the restructuring of the Notes. 67.6% of the shares
outstanding voted at the meeting and all five matters were approved
by at least 95% of the vote with the restructuring of the Notes
being approved by over 99% of the vote.
Doug Belanger, President, stated, “We anticipate that the
restructuring will allow us to accomplish our objective of
minimizing shareholder dilution resulting in less than 73 million
shares of common stock outstanding or approximately 80 million on a
fully diluted basis. We are very pleased to have obtained the
support of our shareholders and noteholders for the debt
restructuring. Upon the completion of the restructuring we will
continue to pursue our $2.1 billion arbitration claim against the
Bolivarian Republic of Venezuela for the expropriation of the
Company’s Brisas project and other mining projects to become an
operating company.”
For further information, please refer directly to the Company’s
filings at www.goldreserveinc.com, www.sedar.com or
www.sec.gov.
"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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