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08/30/2025 – 05:03 PM
PEMBROKE, Bermuda – Gold Reserve Ltd. (TSX.V: GRZ; BSX: GRZ.BH; OTCQX: GDRZF) announced on August 29, 2025, that the U.S. Government has filed a Statement of Interest in the ongoing New York federal court litigation concerning the validity of the 2020 PDVSA bonds.
At the heart of the matter: Are the 2020 PDVSA bonds, issued by the Maduro regime in October 2016, invalid under Venezuelan law? And if so, what are the implications? The 2015 National Assembly of Venezuela has repeatedly asserted the bonds’ invalidity based on Venezuelan law.
The U.S. Government’s Statement of Interest throws considerable weight behind the 2015 National Assembly. The statement “affirmed its recognition of, and firm support for, the 2015 National Assembly of Venezuela as the government of Venezuela,” underscoring that the assembly is “the only government duly elected by the Venezuelan people.” The U.S. government is urging the New York court to give “respectful consideration” to the 2015 National Assembly’s views on Venezuelan law.
The U.S. Government’s statement concludes: “For the foregoing reasons, the United States respectfully (1) advises the Court of its recognition of and support for the 2015 National Assembly as the government of Venezuela; (2) urges the Court to accord respectful consideration to the Republic’s views as required by Animal Science Products; and (3) takes no position on the legal issues in the parties’ pending cross-motions for summary judgment.”
A cautionary note: Gold Reserve’s announcement includes forward-looking statements that inherently involve risks and uncertainties. The company urges investors to review its filings on SEDAR+ for a more detailed discussion of risk factors.
Source: Gold Reserve Ltd.
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