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Regulatory

Gold Reserve Provides Update on Citgo Sale Process: Delaware District Court Enters Final Sale Order for Sale to Elliott/Amber

By The Northwire Desk — AI Analysis Dec 01, 2025 · 07:30 GRZ · 1.74 Gold Reserve Inc.
GRZ · Price

Executive Summary

  • The U.S. District Court for the District of Delaware issued a final order authorizing the sale of PDVH Shares to Elliott/Amber Energy.
  • Closing of the transaction is stayed until at least seven days after the Special Master confirms receipt of all required OFAC and other regulatory approvals.
  • The court order and related proceedings are documented in the public docket for Crystallex International Corp. v. Bolivarian Republic of Venezuela (D. Del.).

Key Details

  • Final court order authorizes sale of PDVH Shares to Elliott/Amber Energy.
  • Closing is stayed until a minimum of seven days after the Special Master files notice that all OFAC and other regulatory approvals have been obtained.
  • The Special Master’s notice will also confirm that the sale is ready to close.
  • Full description of the Delaware sale proceedings is available on PACER under case No. 1:17‑mc‑00151‑LPS.
  • Forward‑looking statements caution investors about uncertainties related to proceeds, potential appeals, and other creditor claims.
  • The release includes standard risk disclosures and forward‑looking statement cautions per U.S. and Canadian securities laws.

Notable Quotes

(No direct quotes from executives were provided in the release.)

Read the original news release →

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