07:33 AM EDT, 06/06/2025 (MT Newswires) -- Gold Reserve ( GDRZF ) overnight Thursday agreed to a shorter extension of the sale hearing date for CITGO Petroleum than what had been requested by the Venezuela parties that sought to extend the date from July 22 to the week starting Sept. 2.

The company stated that while it agreed that a short extension of the sale hearing date was "justified," a three-week extension, to the week commencing Aug. 11, was "sufficient," rather than the six-week extension requested. Gold Reserve's ( GDRZF ) response was joined by Koch Minerals Sarl and Koch Nitrogen International Sarl.

The U.S. District Court for the District of Delaware will consider the final recommended bid for the purchase of the shares of PDV Holding, the indirect parent company of CITGO, and any objections at the sale hearing.

Shares of Gold Reserve ( GDRZF ) closed up 4.6% to $2.75 on Thursday on the TSX Venture Exchange.