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CBC
a day ago
- Politics
- CBC
Edmonton city councillors forging ahead on river valley plan revamp despite pushback
Edmonton city council will proceed on updating a plan which would direct the future use and management of the North Saskatchewan River Valley despite public concerns raised during a hearing Monday. From environmental conservation to increased public access to the river valley, several members of the public presented their views before Edmonton city council Monday as the city looks to revamp it's river valley plan for the first time in decades. Councillors ultimately voted unanimously to move forward with administration's plan. Ward Sspomitapi Coun. Jo-Anne Wright attempted a motion that would have had administration go back to the drawing board and look at changes to address concerns over language and ensuring environmental protection of the river valley while balancing public access. That motion failed 4-9 with only Wright, Michael Janz, Erin Rutherford and Andrew Knack voting in favour. Concern was raised by various speakers over the use of "shall" vs."should" in plan guidelines. "The proposed bylaw falls short of protecting this treasure," said Ansh Gulati, a law student at the University of Alberta working with the Edmonton River Valley Conservation Coalition. "We are serious about protection and enforcement. The use of 'should' must be altered or restored to 'shall' to be binding and impose a legal obligation." Council ultimately expressed concern that making the change would have been too restrictive. "Shall is, 'you shall do X or you shall not do X, mandatory. It's very prescriptive. There's no flexibility with shall. You need to amend the plan to get some flexibility," said Mayor Amarjeet Sohi. "Our goal is to protect the river valley, but at the same time, make sure that Edmontonians are able to enjoy this beautiful asset that we have … it's not to exclude from enjoyment." The city is undertaking this revamp as it has said its approach to planning, engagement and environmental protection has evolved as new challenges like climate change have come into the forefront. Administration is seeking a variety of changes such as a stronger connection to the city's Ribbon of Green plan, placing limits on intensive open space facilities, utility infrastructure and transportation infrastructure, updating assessment requirements and updating triggers for when a project proposal might require council approval. Multiple organizations presented their thoughts on the plan Monday at city hall. "We support the city's efforts to modernize and clarify key elements of its planning framework," said Elise Shillington with BILD Edmonton Metro, a group that represents real estate developers in Edmonton. "Regular updates to statutory plans are vital to maintaining a planning system that is agile, responsive and capable of supporting both development and redevelopment, also ensures the involving needs of current and future residents, while continuing to safeguard our crown jewel, the Edmonton river valley." Other groups like the northern chapter of the Canadian Parks and Wilderness Society expressed concerns that the plan does not go far enough to protect environmental concerns. Since 2005, the city has lost 4.2 per cent of natural areas in the river valley according to Kecia Kerr, executive director with the society. "It is significant, given that the proposed bylaw will weaken protections, and if our citywide trend continues, natural areas will become extremely rare within the city, outside of the river valley." Concerns of lack of care and consultation Kerr said they see three major gaps in the proposed plan that put the river valley at risk: weak discretionary language, a reduction of oversight of development by council and the public, and a lack of clear binding limits on environmental impact. The proposed plan delegates development decisions to city administration for projects under 10,000 square metres. "These large thresholds mean that significant developments can move forward without council oversight or public hearing under the current language of the plan", Kerr said. Some speakers noted that a reduction of 500 square metres would have been a compromise that allows for potential development. Joe Yurkovich, president of the Edmonton Mountain Bike Alliance, said there needs to be a different standard applied to trails. "The bylaw needs to be amended so that pockets within administration don't have the discretion or don't feel compelled to apply the strictest standards against the natural surface trail development," Yurkovich said. Miranda Jimmy, a member of Thunderchild First Nation, said the city is not honouring its commitments to Indigenous people through consultation oversight. "The [area redevelopment plan] and the bylaws before you today do not meet this threshold of free, prior informed consent, the basis of the United Nations Declaration on the Rights of Indigenous peoples and the TRC principles of reconciliation," Jimmy said. "The plan also does not include a requirement for Indigenous consent in future decisions made under these updated rules, Indigenous engagement does not equal consultation with rights holders. Consultation does not equal consent." City administration told council that it undertook Indigenous engagement in each of the four phases of the plan revamp project and reached out to 32 First Nations.
Business Wire
08-08-2025
- Business
- Business Wire
Gold Reserve Provides Update on Responses to Objections to the Special Master's Final Recommendation in the CITGO Sale Process
PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: (OTCQX: GDRZF) ('Gold Reserve' or the 'Company') announces that, pursuant to the schedule set by the U.S. District Court for the District of Delaware (the 'Court'), various parties filed memoranda and statements in response to the objections to the Special Master's Final Recommendation that Gold Reserve's U.S. acquisition subsidiary, Dalinar Energy Corporation, should be selected by the Court to purchase the shares of PDV Holding, Inc. ('PDVH'), the indirect parent company of CITGO Petroleum Corp. ('CITGO'). The parties that filed memoranda or statements in response to the objections are as follows: The Special Master; Gold Reserve; Rusoro Mining Ltd.; Koch Minerals Sàrl and Koch Nitrogen International Sàrl; Siemens Energy Inc.; Crystallex International Corporation; the ConocoPhillips companies; OI European Group B.V.; the 'Venezuela Parties' (the Bolivarian Republic of Venezuela, PDVSA, PDVH and CITGO); and Black Lion Capital Advisors. Under the Court's schedule, further briefing on the objections is to take place on August 13 and August 16, in advance of the August 18, 2025 Sale Hearing. A copy of the filings will be posted shortly here. A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings. Cautionary Statement Regarding Forward-Looking statements This release contains 'forward-looking statements' within the meaning of applicable U.S. federal securities laws and 'forward-looking information' within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve's and its management's intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to any bid submitted by the Company for the purchase of the PDVH shares (the 'Bid'). We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto; the Bid will not be approved by the Court as the 'Final Recommend Bid' under the Bidding Procedures, and if approved by the Court may not close, including as a result of not obtaining necessary regulatory approvals, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control ('OFAC'), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain sufficient equity and/or debt financing or any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company may forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith); the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors' judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company's September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company's claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. For a more detailed discussion of the risk factors affecting the Company's business, see the Company's Management's Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company's profile at Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by applicable Canadian provincial and territorial securities laws. For further information regarding Dalinar Energy, visit:
Time of India
12-05-2025
- Business
- Time of India
On table at GDA board meet: Master plan, land rates for new township
Ghaziabad: GDA board is likely to approve the rates for acquiring 336.8 hectares of land for the first phase of the Harnandipuram township near Delhi-Meerut Expressway in its meeting next March, a six-member committee headed by district magistrate Deepak Meena announced compensation at four times the existing circle rates for farmers in Mathurapur, Shamsher, Champatnagar, Bhanera-Khurd and Nangla Feroze Mohan Nagar, whose land is to be acquired for the township. With circle rates different, the compensation structure is likely to vary across villages. In Mathurapur, where 14.6 hectares are to be acquired, farmers will receive Rs 4,080 per sqm against the current rate of Rs 1,020. In Shamsher, where 86.5 hectares are needed, farmers will get Rs 6,760 per sqm, up from the existing Rs 1, farmers, who will part with 33.9 hectares, will receive Rs 4,040 per sqm compared to the current Rs 1,010. For Bhanera-Khurd's 9 hectares, the compensation rate was proposed at Rs 4,240 per sqm, increased from Rs 1,060. The largest land acquisition of 192.6 hectares from Nangla Feroze Mohan Nagar will be compensated at Rs 7,200 per sqm, up from Rs 1, revised layout of Madhuban Bapudham is also likely to be cleared by the board. Over 300 plots in the township, which were sold by the development authority as park-facing but were on crematorium land, are to be reallotted. "The allottees, who for about 10 years have been demanding they be given plots elsewhere, will now be given plots elsewhere," a GDA official Master Plan 2031 draft will also be tabled before the board before it is implemented. "The GDA board has reviewed the draft plan on at least four occasions, but for one reason or another, it kept going back and forth. It is a mere formality this time," the official said. Once cleared by the board, the draft will be sent to the state govt for ( Public Access for Housing and Allotment Login ) portal, which GDA plans to introduce for ease of doing business, is also likely to be taken up in the meeting. The scheme aims to provide property details of consumers in one place, for which a unique ID is assigned to every property.
Globe and Mail
01-04-2025
- Business
- Globe and Mail
Gold Reserve Announces Objections to CITGO Bid Recommendation
Gold Reserve Ltd. (TSX.V: GRZ) (OTCQX: GDRZF) (' Gold Reserve ' or the ' Company ') announces that on March 31, 2025, multiple objections were filed in the U.S. District Court for the District of Delaware (the ' Court ') to the recommendation made by the Special Master to select the $3.699 billion bid made by Red Tree Investments, an indirect subsidiary of Contrarian Capital Management, LLC (collectively, ' Contrarian '), instead of the $7.1 billion bid by Dalinar Energy. Objections were filed by numerous parties, including the following: (1) Gold Reserve; (2) Rusoro Mining Ltd.; (3) Koch Minerals Sarl and Koch Nitrogen International Sarl; (4) Siemens Energy Inc.; and (5) CITGO Petroleum Corp and PDV Holding, Inc. In addition, a response and reservation of rights was filed by U.S. Bank National Association and GLAS Americas LLC, which are the Trustee and Collateral Agent for the PDVSA 2020 Bonds, respectively. Copies of these objections and responses can be found at 'The objections all point to the substantial gap in value between the Contrarian bid of $3.7 billion and the $7.1 billion bid by Dalinar Energy, that maximizes value to the claimants in the Delaware Court and not the unresolved claims of 2020 bondholders in the Southern District of New York,' said Paul Rivett, Vice-Chair, Gold Reserve. The objections were based, in part, on documents such as the Contrarian Transaction Support Agreement that were critical to the Contrarian bid which the Court ordered disclosed and unredacted in response to the emergency request filed by the Company on March 22, 2025. Responses to the objections are due on April 3, 2025, and replies are due on April 4, 2025. CITGO Petroleum Corp and PDV Holding, Inc. also filed a motion to stay the Delaware Court proceedings pending a ruling in proceedings pending in the U.S. District Court for the Southern District of New York concerning the validity of the PDVSA 2020 Bonds. A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings. For additional information about Dalinar Energy visit: For additional information about Gold Reserve visit: Cautionary Statement Regarding Forward-Looking statements This release contains 'forward-looking statements' within the meaning of applicable U.S. federal securities laws and 'forward-looking information' within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve's and its management's intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to the Bid. We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto and that the Special Master may reject the Bid at any time; the Special Master may choose not to recommend a Base Bid or Final Bid to the Court; the failure of the Company to negotiate the Bid, including as a result of failing to obtain sufficient equity and/or debt financing; that Bid submitted by the Company will not be selected as the 'Base Bid' or the 'Final Recommend Bid' under the Bidding Procedures, and if selected may not close due to the Sale Process not being completed, including as a result of not obtaining necessary regulatory approval to close on the purchase of the PDVH shares, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control (' OFAC '), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith; the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors' judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company's September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company's claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. For a more detailed discussion of the risk factors affecting the Company's business, see the Company's Annual Information Form on Form 40-F and Management's Discussion & Analysis for the year ended December 31, 2023 and other reports that have been filed on SEDAR+ and are available under the Company's profile at and which have been filed on EDGAR and are available under the Company's profile at Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by the Securities and Exchange Commission and applicable Canadian provincial and territorial securities laws.
