Gold Reserve Inc. Closes Second and Final Tranche of Private Placement
Gold Reserve Inc. is pleased to announce the closing of the second and finaltranche of its previously announced non-brokered private placement. In this tranche, the Company has issued an additional 250,000 units of securities of the Company at a price of US $3.00 per Unit for gross proceeds in the amount of US $750,000 to arms length subscribers. Each Unit comprises one Class A common share of the Company and one-half of one Common Share purchase warrant, with each Warrant exercisable by the holder until September 20, 2015 to acquire one Common Share at a price of US $4.00 per share. In total in the Private Placement, the Company has issued 1,750,000 Units for aggregate gross proceeds of US $5,250,000 to the Company. The proceeds are to be used by the Company for general working capital purposes.