13D Filing: Greywolf Capital Management and Gold Reserve Inc. (GDRZF)

This Amendment No. 4 to Schedule 13D (this “Amendment“) amends the Schedule 13D initially filed on October 13, 2015, as amended by Amendment No. 1 thereto filed on March 30, 2017, Amendment No. 2 thereto filed on April 28, 2017 and Amendment No. 3 thereto filed on August 21, 2017 (as so amended, the “Prior Schedule 13D” and, as amended by this Amendment, this “Schedule 13D“). Capitalized terms used without definition in this Amendment have the meanings ascribed thereto in the Prior Schedule 13D.

Item 4. Purpose of The Transaction

This Amendment amends and supplements Item 4 of the Prior Schedule 13D to report that:

As reported by the Company in a press release dated August 23, 2017, the Investment Manager has agreed with the Company to vote all of the Shares over which it exercises control or direction for the election of seven nominees to the Company’s board of directors (the “Board“) at the Company’s annual meeting of shareholders to be held on August 29, 2017.  Such seven director nominees are: Mr. Robert A. Cohen (a nominee of the Investment Manager); Mr. Michael Johnston (a nominee of Steelhead Partners, LLC (“Steelhead“));  and five members of the Company’s incumbent Board, being Messrs. Rockne J. Timm, A. Douglas Belanger, James P. Geyer, James H. Coleman and Jean Charles Potvin.  As further reported in such press release, the Company has agreed that following such annual meeting, the Board will work with the Investment Manager and Steelhead to seek out and review potential candidates, mutually agreeable to such shareholders, to be appointed to the Board by the end of 2017; and that once a candidate agreeable to the Investment Manager and Steelhead has been identified, such candidate will be appointed to the Board at the request of such shareholders and an existing director will resign at that time.