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.
For further information:
A. Douglas Belanger, President
926 W. Sprague Ave., Suite 200
Spokane, WA 99201 USA
Tel. (509) 623-1500
Fax (509) 623-1634