Great Basin Gold Closes $126.5M Bought Deal Prospectus Offering of Convertible Debentures

On November 19, 2009, Great Basin Gold Ltd. announced that it had closed the previously announced cross-border bought deal offering of senior unsecured 8 per cent convertible debentures with a syndicate of underwriters led by RBC Capital Markets and that included, BMO Capital Markets, Raymond James Ltd. and Thomas Weisel Partners Canada Inc. The underwriters exercised their over-allotment option, resulting in aggregate gross proceeds of $126.5 million.

Great Basin Gold is a gold mining company engaged in the development of two near-term gold projects, one in Nevada and one in South Africa. The company is listed on the TSX, NYSE, AMEX and Johannesburg stock exchanges and this offering brings the total amount it has raised in 2009 to $276 million.

Great Basin Gold was represented by Lang Michener LLP with a team that included Bernhard Zinkhofer, Barbara Collins (securities) and Michael Taylor (US securities).

The underwriters were advised in this transaction by Fasken Martineau DuMoulin LLP with a team led by Lata Casciano and that included, among others, Georald Ingborg, Andrey Schmidt, Amanda MacAdams and Caroline Clapham (securities); Andrew Jackson (banking) and Ronald Nobrega (tax). Martin Glass of Goodwin Procter LLP acted as US counsel to the underwriters.


Barbara Collins Bernhard J. Zinkhofer Lata C. Casciano Martin C. Glass Georald Ingborg Ronald E. Nobrega Caroline E. Clapham Amanda Robinson Andrew P. Jackson Michael H. Taylor


Fasken Martineau DuMoulin LLP Goodwin Procter LLP