Gold Reserve Ltd. has filed an appeal with the U.S. Court of Appeals for the Third Circuit regarding the proposed judicial sale of PDVH shares to Elliott/Amber Energy. The company argues that the District Court’s approval of the sale, which selected a bid $2 billion lower than Gold Reserve’s own offer, violated Delaware law by not awarding the shares to the highest bidder. Gold Reserve also contends that conflicts of interest involving the court-appointed Special Master and advisors compromised the proceedings. The outcome of the appeal could impact the distribution of proceeds from the sale and the company’s ability to recover amounts awarded in previous arbitral and court judgments. Gold Reserve cautions that the litigation and sale process are subject to significant risks and uncertainties, including competing creditor claims and the potential for bankruptcy affecting the proceedings.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gold Reserve Ltd. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260109522937) on January 09, 2026, and is solely responsible for the information contained therein.