June 16, 2017 / 6:15 PM / 2 months ago

BRIEF-Gold Reserve receives first payment from Venezuela

June 16 (Reuters) - Gold Reserve Inc

* Gold Reserve receives first payment from Venezuela

* Entered further amendment to settlement agreement previously entered into with Bolivarian Republic of Venezuela

* Under terms of amended settlement agreement, venezuela will pay Gold Reserve a total of approximately US$1.03 billion

* Amended settlement deal contemplates venezuela's obligations thereunder will be partially collateralized with Venezuelan sovereign debt

* Gold reserve - venezuela paid gold reserve initial installment of US$40 million, will pay balance of amount owing in installments over about next 2 years

* Amended settlement agreement contemplates Venezuela's obligations thereunder to be partially collateralized with Venezuelan sovereign debt

* Co, Venezuela counterparts ratify commitment to move forward towards creation of JV named Empresa Mixta Ecosocialista Siembra Minera, S.A Source text for Eikon: Further company coverage:

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