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Gold Reserve Provides Update on Court Decision in Citgo Sale Process: Delaware District Court Adopts Special Master’s Recommendation of Elliott/Amber Energy $5.9 Billion Bid Over Objection...

GOLD RESERVE INC A NEW (GDRZF) 
NASDAQ:AMEX Investor Relations: goldreserveinc.com
Company Research Source: Business Wire
PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that today the U.S. District Court for the District of Delaware (the “Delaware court”) issued an Order and Opinion adopting the recommendation of the Special Master that the PDVH shares should be sold to Elliott/Amber Energy despite its bid being $2 billion lower in price than the $7.9 billion, fully-financed bid submitted by Gold Reserve/Dalinar Energy and despite the objections filed by Gold Reserve (which were joined by fellow creditors Siemens Energy, Inc. and Valores Mundiales, S.L. and Consorcio Andino, S.L) and the objections filed by the Venezuela Parties (the Opposition government of the Republic of Venezuela, Petroleos de Venezuela SA, PDVSA Holding Company and CITGO Holding Inc.).The Delaware court also inter alia ordered the parties to file a joint status report on November 28, 2025, after which the court indicated it will issue a Show less Read more
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