| Fri 30 Mar 2012, 15:05 | | GBG - Great Basin Gold Limited - Closing of C$50 million bought deal public |
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GBG
GBG
GBG - Great Basin Gold Limited - Closing of C$50 million bought deal public
offer of units
GREAT BASIN GOLD LIMITED
(Incorporated in Canada and registered as an External Company in South
Africa)
(Registration No. 2006/021304/10)
Share Code: GBG ISIN Number: CA3901241057
("Great Basin" or "the Company")
GREAT BASIN GOLD ANNOUNCES CLOSING OF C$50 MILLION BOUGHT DEAL
PUBLIC OFFERING OF UNITS
Not for distribution to U.S. news wire services or dissemination in the
United States
March 30, 2012, Vancouver, BC - Great Basin Gold Ltd. ("Great Basin Gold" or
the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces that it has
closed its previously announced bought deal offering (the "Offering") of
units (the "Units"), at a price of $0.75 per Unit, with a syndicate of
underwriters led by RBC Capital Markets (the "Underwriters"). Each Unit
consists of one common share of Great Basin Gold (a "Common Share") and one
half of one purchase warrant (each whole warrant, a "Warrant"). Each Warrant
will be exercisable for a period of 2 years following the closing of the
Offering at an exercise price of $0.90 per Warrant.
Net proceeds from the Offering will be used for working capital for the
development and ramp up of the Burnstone Mine.
The securities offered have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registrations requirements of such Act. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction in which such offer, sale or solicitation
would be unlawful.
Copies of the final short form prospectus may be obtained from RBC Capital
Markets, Attention: Distribution Centre, 277 Front St. W., 5th Floor,
Toronto, Ontario M5H 2X4 (tel: 416-842-5349).
For additional details on Great Basin Gold and its gold properties, please
visit the Company`s website at www.grtbasin.com or contact Investor Services:
Tsholo Serunye in South Africa
+27 (0)11 301-1800
Michael Curlook in North America
+1 888 633-9332
Barbara Cano at Breakstone Group in the USA
+1 (646) 452-2334
No regulatory authority has approved or disapproved the information contained
in this news release.
Cautionary and Forward Looking Statement Information
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, that address financing events or technical developments
that Great Basin Gold expects to occur are forward-looking statements.
Although the Company believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in forward-looking
statements include financial market conditions, metals prices, exploitation
and exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary permits, licenses and title and
delays due to third party opposition, geopolitical uncertainty, changes in
government policies regarding mining and natural resource exploration and
exploitation, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the forward-
looking statements. For more information on the Company, Investors should
review the Company`s annual Form 40-F filing with the United States
Securities and Exchange Commission and its home jurisdiction filings that are
available at www.sedar.com
Johannesburg
30 March 2012
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 30/03/2012 15:05:02 Produced by the JSE SENS Department.
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