08:00 AM EDT, 08/28/2025 (MT Newswires) -- Gold Reserve ( GDRZF ) on Thursday provided updates regarding the sale process of CITGO.

Gold Reserve ( GDRZF ) seeks to acquire CITGO from Venezuela to recover its losses linked to the country's expropriation of its mining projects.

The company said it received a letter from the Federal Trade Commission granting early termination of the Hart-Scott-Rodino Act waiting period for the proposed acquisition by Gold Reserve ( GDRZF ) of shares in PDV Holding, the parent company of CITGO.

The early termination means that the FTC has determined that Gold Reserve's ( GDRZF ) proposed acquisition of the PDVH shares does not raise antitrust concerns, Gold Reserve ( GDRZF ) said.

The company also filed a motion to strike the a notice declaring Amber Energy's $5.859 billion bid as the superior offer for CITGO, saying that it threatens to short-change a $7.382 billion bid by subsidiary Dalinar Energy.

Pursuant to the court's Aug. 26 order partially granting Gold Reserve's ( GDRZF ) motion to unseal transcripts of the Special Master's Aug. 11 and Aug. 13 ex parte conferences with the court, the Special Master filed partially redacted copies of the transcripts on the docket.

The court further ordered that Gold Reserve ( GDRZF ) may file an objection to the Special Master's redactions, the company said.

Gold Reserve's ( GDRZF ) share price gained 1.1% on Wednesday to $2.83 on the TSXV.