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Implications of the Rusoro Decision for Potential Bidders and Financial Advisors

February-20-2009

Area Corporate Finance and Securities, Mining and Natural Resources

Summary

On February 10, 2009, the Ontario Superior Court granted a temporary injunction restraining Rusoro Mining Ltd. (“Rusoro”) from proceeding with a take-over bid for Gold Reserve Inc. (“Gold Reserve”).  The court’s order also restrained Endeavour Financial International Corporation (“Endeavour”), Rusoro’s financial advisor, from having any involvement in a hostile bid for Gold Reserve.

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