07:38 AM EDT, 03/11/2026 (MT Newswires) -- Gold Reserve ( GDRZF ) said Wednesday that it has settled certain contingent obligations with participants of its 2012 bonus plan and holders of contingent value rights (CVRs), also issued in 2012.

The company will pay $4.86 million to settle 20% of its obligations under the bonus plan and 28% of its obligations under the CVRs.

Last month, Gold Reserve ( GDRZF ) offered all bonus plan participants and CVR holders the opportunity to settle all or part of their entitlements in exchange for a cash payment. The offer closed on March 9.

"We began this process initially prior to the recent change in events in Venezuela as we wanted to begin to pragmatically clean-up our capital structure," said Paul Rivett, Gold Reserve ( GDRZF ) vice chair.