5 results
40-F
2023 FY
GRZ
Gold Reserve Inc
19 Apr 24
Annual report (Canada)
2:25pm
The Class A Shares are traded in Canada on the TSXV under the symbol "GRZ" and quoted in the United States on the OTCQX under the symbol "GDRZF." The following table sets forth for the periods indicated the high and low sales prices of the Class A Shares as reported on the TSXV and the OTCQX during 2023.
TSXV (Cdn $) | OTCQX (U.S. $) | |||||
High | Low | Volume | High | Low | Volume | |
January | 1.98 | 1.55 | 50,600 | 1.47 | 1.15 | 130,500 |
February | 1.74 | 1.40 | 216,200 | 1.28 | 1.05 | 133,200 |
March | 1.98 | 1.44 | 188,000 | 1.41 | 0.91 | 416,000 |
April | 1.90 | 1.51 | 219,500 | 1.38 | 1.13 | 445,100 |
May | 2.04 | 1.58 | 154,700 | 1.50 | 1.21 | 560,000 |
June | 2.73 | 1.70 | 773,800 | 2.23 | 1.24 | 1,400,600 |
July | 4.31 | 2.51 | 1,812,300 | 3.23 | 1.85 | 1,149,900 |
August | 4.27 | 3.52 | 854,100 | 3.14 | 2.83 | 1,245,100 |
September | 4.09 | 3.18 | 319,500 | 3.00 | 2.38 | 6,764,400 |
October | 3.50 | 2.65 | 145,600 | 2.55 | 1.95 | 3,495,200 |
November | 3.20 | 2.85 | 93,500 | 2.47 | 2.00 | 4,030,300 |
December | 3.78 | 3.14 | 121,000 | 2.96 | 2.32 | 3,711,200 |
40-F
2023 FY
GRZ
Gold Reserve Inc
19 Apr 24
Annual report (Canada)
2:25pm
David A. Knight Ontario, Canada Director | Mr. Knight is a retired lawyer with 40 years’ experience in the areas of securities and mining law. Prior to his retirement in 2021, Mr. Knight acted as legal advisor to the Company and currently acts as a consultant. | November 2023 | - | - | Legal Compensation |
David P. Onzay (2) (3) Washington, USA Chief Financial Officer | Mr. Onzay became the Company’s Chief Financial Officer in January 2022. He has been with the Company for 31 years and previously served as the Company Controller. He is also the Chief Financial Officer of Gold Reserve Corporation, GR Mining (Barbados) Inc., GR Procurement (Barbados) Inc., GR Mining Group (Barbados) Inc., Great Basin Energies, Inc. and MGC Ventures, Inc. | January 2022 | 189,843 | 0.2% | |
Directors and officers as a group | 12,661,946 | 12.7% |
40-F
2023 FY
GRZ
Gold Reserve Inc
19 Apr 24
Annual report (Canada)
2:25pm
Fees paid or payable to our independent registered public accounting firm, PricewaterhouseCoopers LLP, are detailed in the following table:
Fee category | (U.S.$) Year Ended 2023 | (U.S.$) Year Ended 2022 |
Audit Fee | $ 199,729 | $ 248,522 |
Tax Fees | 43,144 | 54,608 |
All Other Fees | Nil | Nil |
Total | $ 242,873 | $ 303,130 |
40-F
2023 FY
GRZ
Gold Reserve Inc
19 Apr 24
Annual report (Canada)
2:25pm
The following table and notes thereto state the names of each of our directors and executive officers, the province or state and country of residence, all offices now held by such individual, their principal occupation, the period of time such individual has acted as a director or executive officer and the number of Class A Shares beneficially owned, or controlled or directed, directly or indirectly, by each such director or executive officer.
Name, Residence and Position | Principal Occupation during the last five years | Director and/or Officer Since | Number of Common Shares Beneficially Owned as of December 31, 2023 | Percent of Class | Member of Committee |
James H. Coleman, K.C. Alberta, Canada Director (2) (3) (4) | Mr. Coleman became President and Chairman Emeritus effective February 13, 2024. Prior to that date he had been the Executive Chairman of the Company since 2016 and prior thereto was the non-Executive Chairman since 2004. He has also been a director of the Company and its predecessor Gold Reserve Corporation since 1994. Mr. Coleman was also previously a senior partner with the law firm of Norton Rose Fulbright Canada LLP. He has extensive international industry and public company experience as a result of his membership on the Board for over 25 years and has served on the board of directors of other mining issuers such as Amex Exploration Inc., Avion Gold Corporation and Endeavour Mining Corporation. He has also been a director of Siembra Minera since 2016, Great Basin Energies Inc. since 1996, and MGC Ventures, Inc. since 1997. | February 1994 | 812,138 | 0.8% | Legal Nominating (Chair) Barbados Special (Chair) Financial Markets |
Rockne J. Timm Washington, USA Director (2) (3) (4) | Mr. Timm has been a director of the Company for 35 years and was the Chief Executive Officer until his retirement effective February 13, 2024. He entered into a consulting agreement with the Company as of that date and continues his role as a director. He will act in the capacity of principal executive officer until a new CEO is hired. Mr. Timm is also the President and director of Gold Reserve Corporation, Chief Executive Officer of GR Mining (Barbados) Inc. and GR Procurement (Barbados) Inc. since 2016. Mr. Timm has also been a director of Siembra Minera since 2016. In addition, Mr. Timm has been President and a director of Great Basin Energies, Inc. since 1981, and MGC Ventures, Inc. since 1989. | March 1984 | 1,559,040 | 1.6% | - |
40-F
2023 FY
GRZ
Gold Reserve Inc
19 Apr 24
Annual report (Canada)
2:25pm
Yves M. Gagnon Ontario, Canada Independent Director | Former Ambassador Gagnon joined Global Affairs Canada in 1971. He retired from the public service in 2016 after 45 years of service. He has held positions of increasing importance including Canada’s Ambassador to six countries including Venezuela and Cuba with a special emphasis on Latin America. He has also been a Senior Policy Advisor to Canada’s Ministers of Foreign Affairs and International Trade for the Americas. Mr. Gagnon has a BA in Arts (1968) and a B.Sc. in Political Science (1971) from Laval University and is a graduate of the National School of Administration (ENA) France (1977). | September 2020 | - | - | Special Audit |
Robert A. Cohen Massachusetts, USA Independent Director Chairman | Mr. Cohen has been a director of the Company since 2017 and became Chairman effective February 13, 2024. He retired as of October 1, 2016 from his position as a litigation partner in the international law firm Dechert LLP, and its predecessor firms, in the New York office, where he practiced for more than forty (40) years. | August 2017 | - | - | Compensation Nominating Legal (Chair) |
James Michael Johnston(1) Washington, USA Independent Director | Mr. Johnston co-founded Steelhead Partners, LLC in late 1996 to form and manage the Steelhead Navigator Fund. Prior, as senior vice president and senior portfolio manager at Loews Corporation, Mr. Johnston co-managed over $5 billion in corporate bonds and also managed an equity portfolio. He began his investment career at Prudential Insurance as a high yield and investment-grade credit analyst. Mr. Johnston was promoted to co-portfolio manager of an $11 billion fixed income portfolio in 1991. He graduated with honors from Texas Christian University with a degree in finance and completed his MBA at the Johnson Graduate School of Business at Cornell University. | August 2017 | 10,099,924 | 10.1% | Compensation (Chair) Audit Financial Markets |
James P. Tunkey New York, USA Independent Director | Mr. Tunkey has 29 years of experience in global risk advisory, including asset tracing and recovery, and political and operational risk management. He is the Chief Operating Officer of a global investigations and security consulting company named I-OnAsia. Mr. Tunkey was a director of Kroll Associates and Pinkerton Business Intelligence & Investigations prior to joining I- OnAsia in 2004. Mr. Tunkey holds a TRIUM Master of Business (MBA), jointly conferred by the London School of Economics, HEC Paris, and NYU Stern School of Business. He is a Qualified Risk Director and a Certified Fraud Examiner. Mr. Tunkey holds other professional certificates, including in Corruption Control and Organizational Integrity from Harvard’s JFK School of Government. | November 2022 | 1,001 | <0.1% | Audit (Chair) Nominating |
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