BRIEF-Gold Reserve Ltd Says $7.1 Billion Bid For Citgo Not Recommended As Stalking Horse

, Reuters -  8:34 PM ET 3/23/2025 default

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March 23 (Reuters) - Gold Reserve Ltd ( GDRZF ):

* UPDATE ON CITGO SALE PROCESS

* GOLD RESERVE LTD ( GDRZF ) - $7.1 BILLION BID NOT RECOMMENDED AS STALKING HORSE

* GOLD RESERVE LTD ( GDRZF ) - SPECIAL MASTER RECOMMENDS $3.699 BILLION BID BY RED TREE INVESTMENTS

* GOLD RESERVE LTD ( GDRZF ): DALINAR ENERGY HAS SIGNIFICANT CONCERNS WITH RECOMMENDATION, INCLUDING, (I) DALINAR ENERGY'S BID IS $3.382 BILLION HIGHER THAN CONTRARIAN'S BID

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