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Great Basin Gold completes C$149.5 million financing

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BMO Capital Markets

On April 19, 2007, Great Basin Gold Ltd. announced that it had completed its previously announced public offering of 57.5 million units at a price of C$2.60 per unit, raising gross proceeds of C$149,500,000. Each unit comprises a common share and a half of one common share purchase warrant. Each full warrant will entitle the holder to purchase a common share of Great Basin Gold at a price of $3.50 until April 20, 2009. A syndicate led by BMO Capital Markets and including Desjardins Securities Inc., Pacific International Securities Inc. and RBC Capital Markets acted as underwriters in connection with the offering. The underwriters exercised their 15% over-allotment option in full. The underwriters were advised in this financing by a team from Fasken Martineau led by Lata Casciano with top level advice provided by Al Gourley and John Turner; assisted in Vancouver by Andrey Schmidt, Melody Schalm, Josh Lewis (securities and mining) and Frank Schober (tax) assisted by students-at-law Amanda MacAdams and David Wong and paralegals Sara Kappe and Carole McCool; and in Johannesburg, Dimitri Cavvadas and Annelise Barradale (securities and mining).



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