Gold Reserve Extends Date for Notes Offer; Shares Slip 1%

By Staff,

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Gold Reserve Inc. ( GRZ ) is notifying holders of approximately 1.3% of its 5.50% senior subordinated convertible notes due 2022. GRZ shares are off 1.24% to $3.18.

This represents $1.08 million in aggregate principal amount, of the extension of the expiration date of its offer to participate in a restructuring transaction that has been agreed to with its four largest noteholders representing approximately 98.7% of the outstanding Notes.

The company has extended the expiration date for the offer to 5:00 p.m., Eastern Time, on Friday, October 26, 2012.

GRZ trades within a 52-week range of $2.02 - $4.66.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: GRZ

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