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Gold Reserve injunction request against Rusoro to be heard February 4

Bnamericas Published: Friday, January 09, 2009
The Ontario Superior Court of Justice has fixed February 4 as the date to hear an injunction request filed by Canadian firm Gold Reserve (TSX, Amex: GRZ) against Russian company Rusoro Mining (TSX-V: RML). According to a Gold Reserve statement, the purpose of the injunction is to restrict Rusoro from continuing with its all-stock takeover bid for the Canadian company and to require Endeavour Financial International Corporation to give back all of the company's confidential information. Rusoro launched its unsolicited all-stock takeover bid for Gold Reserve on December 15 after having sent a non-binding letter of intent to acquire the Spokane-based company in August, which was rejected. Gold Reserve controls the Brisas project in Venezuela's Bolívar state, which holds proven and probable reserves of 10.2Moz gold and 1.39Blb (630,000t) copper The company has been waiting for permitting in order to start construction of the project for years.

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