09:27 AM EDT, 08/26/2025 (MT Newswires) -- Gold Reserve ( GDRZF ) , which lost more than 5% on Monday, said that pursuant to the schedule set by the U.S. District Court for the District of Delaware, the "Special Master" provided a Notice of Determination of Superior Proposal.

The company on Tuesday said the notice refers to an unsolicited competing proposal submitted by Amber Energy to the Special Master on August 22, that the Special Master determined constituted a "Superior Proposal" under the terms of the stock purchase agreement Gold Reserve ( GDRZF ) executed with the Special Master on June 25. The court has set an August 27, deadline by which Gold Reserve ( GDRZF ) may file a motion to strike or otherwise object to the notice.

The company said argument on any such motion will be heard by the court at the rescheduled sale hearing starting September 15.

Shares of the company closed down $0.20 to $3.68 on Monday on the TSX Venture Exchange.