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BRIEF-Gold Reserve receives first payment from Venezuela

Published 2017-06-16, 02:14 p/m
© Reuters.  BRIEF-Gold Reserve receives first payment from Venezuela
GRZ
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June 16 (Reuters) - Gold Reserve Inc GRZ.V

* Gold Reserve receives first payment from Venezuela

* Entered further amendment to settlement agreement previously entered into with Bolivarian Republic of Venezuela

* Under terms of amended settlement agreement, venezuela will pay Gold Reserve a total of approximately US$1.03 billion

* Amended settlement deal contemplates venezuela's obligations thereunder will be partially collateralized with Venezuelan sovereign debt

* Gold reserve - venezuela paid gold reserve initial installment of US$40 million, will pay balance of amount owing in installments over about next 2 years

* Amended settlement agreement contemplates Venezuela's obligations thereunder to be partially collateralized with Venezuelan sovereign debt

* Co, Venezuela counterparts ratify commitment to move forward towards creation of JV named Empresa Mixta Ecosocialista Siembra Minera, S.A Source text for Eikon: ID:nBw5KgpLya Further company coverage: GRZ.V

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