Gold Reserve extends expiry of offer of USD1.1m remaining senior notes due 2022 

Gold Reserve extends expiry of offer of USD1.1m remaining senior notes due 2022

Nov 19, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Gold Reserve Inc (nyse-mkt:GRZ), an exploration stage company, stated on Friday that it is notifying holders of about 1.3% or USD1.1m of its 5.50% senior subordinated convertible notes due 2022 that the expiry date to participate in a restructuring transaction has been extended to Midnight Eastern Time on 23 November 2012.

Further, the company does not expect to further extend the expiry for the transaction that has been agreed to with its four largest noteholders representing about 98.7% of the outstanding notes.

Also, a total of USD38,000 of the notes have been tendered by the holders of the USD1.1m of outstanding notes not held by the four largest noteholders, as of 15 November 2012 and the four largest noteholders have delivered their notes to the agent under the terms and conditions set forth in the Tender Offer Statement and the letter of transmittal and the related offer materials filed with the US Securities and Exchange Commission.

The company added that the offer, letters of transmittal and related offer documents may be obtained free of charge at the website http://www.sec.gov, or by directing a request to the company.

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