SPOKANE, WA,
Sept. 27, 2012 /CNW/ - Gold Reserve
Inc. (TSX VENTURE:GRZ) (NYSE-MKT:GRZ) (the "Company") announced on
September 18, 2012 that it was
notifying holders ("Holders" or "Noteholders") of its 5.50% Senior
Subordinated Convertible Notes due 2022 (the "Notes") of its offer
("Offer") to the Holders of an opportunity to participate in a
restructuring transaction that has been agreed to with its four
largest Noteholders ("Large Noteholders").
The Company has filed its Tender Offer Statement
with respect to its offer to Holders of approximately 1.3% of the
outstanding Notes (representing $1,080,000 in aggregate principal amount) to
elect to accept the same arrangement as was agreed by the Company
with the Large Noteholders. In order to surrender the Notes and
participate in the Offer, Holders must deliver a letter of
transmittal to the agent for the offer no later than 5:00 p.m., New York
City time, on October 16, 2012
pursuant to the instructions in the Offer.
The Company has made available to Holders,
documents specifying the terms, conditions and procedures for
surrendering and withdrawing the Notes. The Company is issuing this
press release to notify Holders that tender through DTC's Automated
Tender Offer Program (ATOP) to also separately send fully executed
original letters of transmittal directly to the agent for the
Offer, U. S. Bank National Association, West Side Flats Operations
Center, Attn: Lori Buckles, 60
Livingston Avenue, Mail Station - EP-MN-WS2N, St. Paul, MN 55107-2292.
Holders are encouraged to read these documents
carefully before making any decision with respect to the surrender
of the Notes, because these documents contain important information
regarding the details of the Company's obligation to repurchase the
Notes. The Offer, letters of transmittal and related documents 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.