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

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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.

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This article appears in: Investing , Commodities

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