UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
(X) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Belanger, A. Douglas
926 W. Sprague Ave., Suite 200
Spokane, WA 99201
USA
2. Issuer Name and Ticker or Trading Symbol
Gold Reserve Corporation
GLDR
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
02/28/99
5. If Amendment, Date of Original (Month/Year)
02/28/99
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President - Secretary
7. Individual or Joint/Group Filing (Check Applicable Line)
( ) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock - Previsously | | | | | | |385,358 |D | |
Reported | | | | | | | | | |
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Common Stock |2/3/99|N |V|10,000 |A |3.00/sh |395,358 |D | |
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| | | | | | |750 |I |By Spouse |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Options - Previo| | | | | | | | | | | |543,955 |D | |
usly reported | | | | | | | | | | | | | | |
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Stock Options |1.50/sh |2/3/9|A | |30,000 |A |2/3/9|2/3/0|Common Stock|30,000 | |573,955 |D | |
| |9 | | | | |9 |4 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
Amended to say the
following:
In reference to the 395,358 shares of common stock on page 1, as a result of a
merger transaction approved by shareholders and implemented under
applicable corporate legislation on 02/04/99, 268,880 shares are now Class B -
common shares of Gold Reserve Corp. and 127,228 shares are now
Class B common shares of Gold Reserve
Inc.
