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Gold Reserve Inc. (OTCQX:GDRZF) announced the issuance of 2,983,750 stock options to its officers, directors, and consultants. These options are exercisable at US$1.60 with a 10-year term, granted under the 2012 Equity Incentive Plan. Previously announced on May 19, 2021, this issuance has received approval from the TSXV. The company alerts investors about inherent risks in its operations, particularly due to sanctions on Venezuela, and uncertainties surrounding the future compliance of Venezuelan authorities with existing agreements.
Positive
Issuance of 2,983,750 stock options may align management interests with shareholders.
Options are exercisable at US$1.60, offering potential upside for stakeholders.
Negative
Operational risks linked to Venezuela's sanctions could impact financial performance.
Uncertainty regarding Venezuela's adherence to the Settlement Agreement poses risks.
SPOKANE, Wash.--(BUSINESS WIRE)--
Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) today announced that its Board of Directors granted the previously announced issuance of 2,983,750 stock options to officers, directors and consultants. These stock options are exercisable at US$1.60, have a 10-year term and have been issued pursuant to the Company's 2012 Equity Incentive Plan (as amended, the "Option Plan"). The intention to grant these stock options was announced by the Company by a news release issued on May 19, 2021. The approval of the TSXV to the amendment to the Option Plan mentioned in such news release has been obtained.
This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve’s and its management’s intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual outcomes, financial results, performance, or achievements of Gold Reserve to be materially different from our estimated outcomes, future results, performance, or achievements expressed or implied by those forward-looking statements, including without limitation the risks and uncertainties associated with the U.S. and Canadian sanctions against Venezuela and/or its government officials, risks associated with the continued failure by Venezuela to honor its commitments under the Settlement Agreement and/or the Award; risks associated with the collection of the Award and substantial concentration of our operations and assets in Venezuela and risks that any future Venezuelan administration will fail to respect the agreements of the prior administration. This list is not exhaustive of the factors that may affect any of Gold Reserve’s forward-looking statements. For a more detailed discussion of the risk factors affecting the Company’s business, see the Company’s Annual Information Form and Management’s Discussion & Analysis for the year ended December 31, 2020 which have been filed on SEDAR and are available under the Company’s profile at www.sedar.com and which form part of the Company’s Form 40-F for the year ended December 31, 2020 which have been filed on EDGAR and are available under the Company’s profile at www.sec.gov/edgar.
Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by the Securities and Exchange Commission and applicable Canadian provincial and territorial securities laws.
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.
Gold Reserve Inc. A. Douglas Belanger, President
999 W. Riverside Ave., Suite 401
Spokane, WA 99201 USA
Tel: (509) 623-1500
Fax: (509) 623-1634
Source: Gold Reserve Inc.
FAQ
What are the details of Gold Reserve's stock options issuance on May 19, 2021?
Gold Reserve issued 2,983,750 stock options to its officers, directors, and consultants, exercisable at US$1.60 with a 10-year term.
How does the stock option issuance affect Gold Reserve's stock GDRZF?
The issuance aligns management incentives and could potentially benefit shareholders if the company's performance improves.
What risks does Gold Reserve face related to its operations in Venezuela?
Gold Reserve faces risks from U.S. and Canadian sanctions against Venezuela and uncertainties about the Venezuelan government's compliance with agreements.
Where can I find more information about Gold Reserve's financial situation?
For detailed information, check Gold Reserve's filings on SEDAR and EDGAR, particularly its Annual Information Form and Management’s Discussion.
