Gold Reserve Announces US$50 Million Common Share Financing with Strategic Investors [The Globe and Mail]
Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces it has entered into an engagement letter with Cantor Fitzgerald Canada Corporation (“CFCC” or the "Agent"), to undertake a private placement of common shares of the Company (the "Common Shares") for anticipated gross proceeds of up to approximately US$50.3 million (the “Offering”) at a price per Common Share of US$3.00 (the “Issue Price”).
Net proceeds from the Offering are expected to be used to scale the Company’s operational mining expertise, and for working capital and general corporate purposes.