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Tuesday, 17th March 2009 (1555 views)

Great Basin Gold has revealed that it has completed a C$130 million (£73 million) equity financing.

The previously announced public offering of 100,000,000 units was launched at a price of C$1.30 per unit, with each comprising one common share and one-half of one common share purchase warrant.

Each full warrant entitles the bearer to purchase one common share of the company for C$1.60 before 5pm on October 15th 2010.

Great Basin Gold has granted an over-allotment option to the underwriters, a syndicate led by BMO Capital Markets and RBC Capital Markets, exercisable for a period of 30 days following the closure of the offering.

Under the option, the underwriters are entitled to purchase up to an additional 15,000,000 common shares and/or 7,500,000 warrants.

Based in Vancouver, British Columbia, international mining firm Great Basin Gold has a number of advanced stage development projects, including the Hollister property on Nevada's Carlin Trend and the Burnstone prospect in the Witwatersrand Basin of South Africa.

 

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