Gold Reserve (TSE:GRZ) has released an update.
Gold Reserve Inc. successfully completed a private placement, raising $36 million through the sale of 8.78 million shares at $4.10 each, with Cantor Fitzgerald Canada Corporation acting as the exclusive agent. The net proceeds are intended for the company’s bid for PDV Holdings, parent of CITGO Petroleum, and general corporate purposes. The offering’s final acceptance is pending approval by the TSX Venture Exchange.
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