he latest from his blog...

12/15/08

Rusoro (RML.v) bids for Gold Reserve (GRZ)

Don't say I didn't warn you.

Rusoro Launches Take-Over Bid for Gold Reserve
Monday December 15, 8:27 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 15, 2008 -- Rusoro Mining Ltd. (CDNX:RML.V - News) ("Rusoro" or the "Company") today announced a take-over bid (the "Take-Over Bid") for Gold Reserve Inc. ("Gold Reserve") (Toronto:GRZ.TO - News)(NYSE-A: GRZ). Rusoro is offering Gold Reserve shareholders and equity unit holders (collectively, the "Gold Reserve Equityholders") 3 Rusoro common shares for each Gold Reserve Class A common share and each Gold Reserve equity unit (collectively, the "Gold Reserve Equity"). The offer values Gold Reserve at C$1.08 per each Class A common share and each equity unit, and represents a premium of 140% based on the December 12, 2008 closing prices for Rusoro and Gold Reserve on the TSX Venture Exchange ("TSXV") and the Toronto Stock Exchange ("TSX"), respectively, and a premium of 209% based on the volume-weighted average trading yada yada continues here

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