Each one in plain English, with the numbers worked through for a shareholder.
10 Feb 2009merger communication▲ GoodMajor
The Ontario Superior Court granted Gold Reserve an injunction blocking Rusoro's bid until trial, finding Rusoro had accessed or benefited from Gold Reserve's confidential information through Endeavour Financial; the court ordered Rusoro and Endeavour to return that information.
Technical amendment restating boilerplate forward-looking-statement language in Gold Reserve's rejection statement; no new facts, filed the same day as the Ontario injunction hearing.
Gold Reserve's board postponed the technical 'separation time' under its poison pill to February 17, 2009, keeping the defense in place since Rusoro's bid still didn't qualify as a Permitted Bid.
Gold Reserve reported that less than 3% of its shares had been tendered into Rusoro's bid despite the extension -- evidence the board's rejection recommendation was holding.
Rusoro extended its bid's expiry date via a Notice of Variation and commented on separate reports that Gold Reserve was considering suing the Venezuelan government.
Gold Reserve urged shareholders to be skeptical of Rusoro's reported Q4 production figures, noting Rusoro had a history of delinquent quarterly filings on the TSX-V.
Gold Reserve said it had no communication from Venezuela's government about reports of a Rusoro/Venezuela joint venture ("VENRUS") to jointly develop the Brisas deposit, and noted Rusoro had disclosed no such deal publicly -- an early sign of the political risk around Brisas that would culminate in Venezuela's 2009 seizure of the project.
Rusoro reported record Q4 2008 gold production and a new environmental permit at its Increible 6 property, part of its ongoing case for its stock as bid currency.