Gold Reserve Inc. (TSX.V:GRZ) (OTCQB:GDRZF) (“ the “Company”) announces
the closing of the previously announced financing of US $12 million of
new convertible notes and the extension and modification of
substantially all of the US$ 25.3 million outstanding principal amount
of previously modified notes (collectively “the Notes”).
Interest related to the Notes will be accrued and be capitalized
quarterly at a rate of 11% annually issued in the form of a note and be
payable in cash at maturity on December 31, 2015.
for Gold Reserve Issues US $12 Million of New Convertible Notes and Modifies Terms of US $25.3 Million of Existing Convertible Notes investment picks