Great Basin Gold completes $149.5 million equity financing
Client
Underwriters led by BMO Capital Markets and RBC Capital Markets
On March 13, 2009, Great Basin Gold Ltd. (TSX: GBG; NYSE Alternext: GBG; JSE: GBG) announced that it had completed its previously announced public offering of 100,000,000 units at a price of $1.30 per unit resulting in gross proceeds of $130 million. A syndicate led by BMO Capital Markets and RBC Capital Markets acted as underwriters in connection with the offering. The underwriters subsequently exercised an over-allotment option to purchase additional common shares and warrants, bringing the total gross proceeds raised from the offering to $149,500,000.
The net proceeds from the offering will be used by Great Basin Gold to fund the development of the company's Burnstone project in South Africa and for general corporate purposes.
The underwriters were advised in this transaction by Fasken Martineau with a team that included Lata Casciano, Josh Lewis, John Turner, Ron Nobrega, Greg Ho Yuen, Dimitri Cavvadas, Andrey Schmidt, Amanda MacAdams, Daniel Fuke, Amanda Fullerton, Martin Fisher-Haydis, David Kriel and Deenan Pillay.
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