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Gold Reserve Inc. Message Board

  • benpickinaway benpickinaway Apr 29, 2014 3:59 PM Flag

    $12 million financing

    GRZ announced a $12 million convertible financing with the existing noteholders modifying maturity of existing convertible notes. Filed 2103 year end

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    • Well, I guess the arbitration process is taking longer than anyone thought? 4 years? How much longer?

      My own answers to the above:

      Yup, it has taken longer. Yes. Hopefully soon the decision will be announced by the panel.

      • 1 Reply to grzwatcher
      • Private placement 1 - $4.5 mil
        Private placement 2 - $5.25 mil
        Convertible financing - $12 mil

        $21.75 million in 8 months. That's not a sign of confidence from management. This could go on another year or longer. Some arb cases have gone on considerably longer than ours.

        I hope we're not witnessing another Crystallex, whereby the company is steering its potential award to the Big Boys while stiffing the share holders. Maybe this is why Doug is giving everyone who calls a rosy picture.

        Another $12 million? For what? The arbitration case is supposedly least that's what Doug indicated privately to those who called him. Either management thinks this case will drag on much longer, or they don't believe they will win and want to continue collecting salaries after the stock is worth pennies again.

    • "Doug Belanger, President stated, “We appreciate the continued support of our shareholders and noteholders during the arbitration process. Extending the maturity of the notes and raising additional funds will allow the Company to pursue the arbitration process through to its full conclusion.”

      I guess Doug forgot to mention this to all those share holders who he spoke to on the phone.

      I thought the case was done anyway.

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