TheNewsRoom | Offerings Drive Down Shares of GBG, SMP

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Offerings Drive Down Shares of GBG, SMP

October 30, 2009

Great Basin Gold (GBG) announced a bought deal offering of 110 million dollars Canadian of convertible debentures, which bear interest at 8%, and can be converted into common shares at a conversion price of 2 dollars and 15 cents Canadian. The company said it would use the proceeds to pay down its project finance facility, and for development of the Company's Burnstone project.