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Great Basin Gold closes public offering of units for gross proceeds of US$57.5 million

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A syndicate of Underwriters led by RBC Capital Markets

On March 30, 2012, Great Basin Gold Ltd. (Great Basin) announced that it  had closed its $50 million public offering of units. On April 5, 2012, Great Basin announced the exercise and closing of the over-allotment option granted to the Underwriters, bringing total aggregate gross proceeds raised from the offering to $57.5 million. Net proceeds from the offering will be used for the development of the Burnstone Mine in South Africa. The underwriters were advised by Fasken Martineau with a team consisting of Blair Horn, Amanda Robinson, Barinder Sidhu, Josh Lewis, Frank Schober, Dimitri Cavvadas and Yushanta Kandasmy.

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