Spokane-based Gold Reserve (TSE) plans to acquire the Brisas concession in the Kilometre 88 region of Venezuela.
Until now, the company has held a 75% direct and a 16% indirect interest in the property. It intends to acquire the remaining 9% indirect interest by way of a share exchange with the minority owners, Gold Reserve Aruba and Glandon. This exchange would result in Gold Reserve Aruba and Glandon (and their respective subsidiaries) becoming wholly owned subsidiaries of Gold Reserve. The plan has yet to be approved by regulators and shareholders.
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