Gold Reserve waiting period under Hart act ends early

An anonymous director reports GOLD RESERVE PROVIDES UPDATE ON CITGO SALE PROCESS - NOTICE OF REGULATORY APPROVAL / MOTION TO STRIKE NOTICE OF SUPERIOR PROPOSAL / UNSEALING OF TRANSCRIPTS Gold Reserve Ltd. has provided three updates in the Citgo sale process. 1. The company received, on Aug. 27, 2025, a letter from the Federal Trade Commission granting early termination of the Hart-Scott-Rodino Act waiting period for the proposed acquisition by Gold Reserve of the PDVH shares through its acquisition subsidiary Dalinar Energy Corp. As stated in the letter, the early termination is effective immediately. This early termination means that the FTC has determined that Gold Reserve's proposed acquisition of the PDVH shares does not raise antitrust concerns. The company filed notice of this regulatory approval with the U.S. District Court for the District of Delaware. A copy of this filing and the FTC's letter will be posted. 2. Pursuant to the schedule set by the court, the company filed, on Aug. 27, 2025, a motion to strike the special master's notice of determination of superior proposal. The introduction to the motion states as follows. "The special master's determination that Amber Energy's circa $5.859-billion bid price is a superior proposal is contrary to this court's orders, discards the bidding procedures on which Gold Reserve and other parties relied, and threatens to shortchange the attached judgment creditors by $1.5-billion relative to the Dalinar Energy's $7.382-billion bid. Gold Reserve expended tens of millions of dollars to participate in this process and committed the full value of its $1.3-billion judgment precisely because the court ordered bidder protections -- as reflected in the model SPA approved by the court and the Dalinar Energy stock purchase agreement -- that any postfinal recommendation bid must exceed Dalinar Energy's purchase price by at least $80-million (that is, the $50-million overbid amount and the $30-million expense reimbursement)." The motion respectfully requests that the court strike the notice, and any subsequent act of the special master based thereon. Responses to the motion are due by Sept. 5, replies in support are due by Sept. 11 and the court will hear argument on the motion at the sale hearing scheduled to commence Sept. 15, 2025. A copy of the motion and exhibits will be posted. 3. Pursuant to the court's Aug. 26, 2025, order granting in part the company's motion to unseal transcripts of the special master's Aug. 11 and Aug. 13, 2025, ex parte conferences with the court, the special master filed partially redacted copies of the transcripts on the docket. The court further ordered that Gold Reserve may file an objection to the special master's redactions, to which the special master shall respond within two business days and to which Gold Reserve may reply on the following business day. A copy of the transcripts, the court's order, the company's motion and the special master's response to the motion will be posted. A complete description of the Delaware sale proceedings can be found on the public access to court electronic records system in Crystallex International Corp. v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings. We seek Safe Harbor.