13D Filing: Greywolf Capital Management and Gold Reserve Inc (TSE:GRZ)

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(f) The citizenship of each of the Reporting Persons is set forth above.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby supplemented to state the following:
The net investment cost for the 2,481,959 Shares beneficially owned by MSP5 is $7,878,979.  The consideration for such acquisition was obtained from working capital.
Item 5Interest In Securities Of The Issuer
Item 5 is hereby amended and restated in its entirety as follows:
The Greywolf Funds
(a),(b)
The information set forth in Rows 7 through 13 of the cover page hereto for each of the Greywolf Funds is incorporated herein by reference for each such entity.  The percentage amount set forth in Row 13 for all cover pages filed herewith is calculated based upon the 87,546,147 Shares outstanding as of September 30, 2016, as reported by the Company in its Form 6-K filed with the Securities and Exchange Commission on November 23, 2016.
(c)
On March 15, 2017, MSP5 purchased 2,481,959 Shares from Greywolf Event Driven Master Fund at a price of $3.175 per share in a private transaction.  Other than the sale by Greywolf Event Driven Master Fund and the purchase by MSP5, there have been no purchases or sales of Shares by the Greywolf Funds in the past 60 days.
(d)
The Investment Manager has the power to direct the receipt of dividends relating to, or the disposition of the proceeds of the sale of, all of the Shares beneficially owned by the Greywolf Funds as reported herein.  The Investment Manager General Partner is the general partner of the Investment Manager.  Savitz is the sole managing member of the Investment Manager General Partner.
(e)
Not applicable.
The Investment Manager and the Investment Manager General Partner
(a),(b)
The information set forth in Rows 7 through 13 of the cover page hereto for each of the Investment Manager and the Investment Manager General Partner is incorporated herein by reference.
(c)
None.
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