Great Basin Gold announces exercise of over-allotment option
04 Aprile 2012 - 5:14AM
PR Newswire (Canada)
Not for distribution to U.S. news wire services or dissemination in
the United States VANCOUVER, April 5, 2012 /CNW/ - Great Basin Gold
Ltd. ("Great Basin Gold" or the "Company"), announces that RBC
Capital Markets, on behalf of the underwriters has exercised the
underwriters' over-allotment option to purchase an additional
10,005,000 common shares at $0.75 per common share and 5,002,500
warrants at a price of $0.90 per warrant, for gross proceeds to the
Company of $7,503,750. Each full warrant will entitle the
holder to purchase one common share of the Company at a price of
$0.90 per common share at any time before 5:00 p.m. (Vancouver
time) on March 30, 2014. The over-allotment option was granted to
the underwriters by the Company to cover over-allotments under the
terms of the Company's public financing completed on March 30, 2012
and the exercise of the over-allotment option brings the total
gross proceeds raised from the offering to $57,528,750. A syndicate
led by RBC Capital Markets acted as underwriters in connection with
the offering. Closing of the over-allotment occurred today. 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. 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. Great Basin Gold Ltd. CONTACT: For
additional details on Great Basin Gold and its
goldproperties,please visit the Company's website at
www.grtbasin.com or contactInvestor Services:Tsholo Serunye in
South Africa +27 (0)11 301-1800Michael Curlook in North America +1
888 633-9332Barbara Cano at Breakstone Group in the USA +1 (646)
452-2334
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