Great Basin Gold announces that FTI Consulting Canada, Toronto has been appointed receiver over the assets and undertaking of the Company effective today. The Receiver was appointed by order of the British Columbia Supreme Court issued today (Vancouver Registry No S-134749) which also terminated the Companies Creditor Arrangement Act (CCAA [...]
Great Basin Gold Limited (the "Company") announces that further to its news release of April 29, 2013 the sale of its Nevada assets and operations including the Hollister trial mine and Esmeralda mill has completed substantially on the terms disclosed in that news release except that the term of the net profits royalty may be terminated after five [...]
Great Basin Gold Limited announces that its Hollister trial mining assets, mineral claims and ore processing operations in Nevada have been tentatively disposed of in an auction conducted pursuant to US Chapter 11 proceedings. The proceeds of Hollister sale were US$15 million plus a 15% net profits royalty payable to the bankrupt US subsidiaries [...]
Great Basin Gold Limited's subsidiary Rodeo Creek Gold Inc., and certain of its affiliates, entered US Bankruptcy Code Chapter 11 restructuring proceedings in Nevada on February 25, 2013. The companies expect no interruptions in day-to-day business and remain focused on continuing their trial mining operations at the Hollister gold mine and related [...]
Great Basin Gold Ltd. previously reported in its news release dated December 24, 2012, the Company intends to delist voluntarily its common shares from NYSE MKT. Management's belief is that under the Company's current financial circumstances, it is not practicable for the Company to maintain a plan of compliance that would satisfy NYSE MKT's [...]
Great Basin Gold Ltd. initiated creditor protection proceedings under CCAA in Canada in September 2012 and provides this general situation update. Under the CCAA proceedings, the stay of any potential creditor lawsuits was extended until January 14, 2013. As previously announced, the Company's executive officers are now provided by a professional [...]
VANCOUVER, Dec. 3, 2012 /CNW/ - Great Basin Gold Ltd. (the "Company") (NYSE:GBG); (JSE:GBG) announces that Alvarez & Marsal Canada ULC ("A&M"), an affiliate of a leading international professional services and restructuring firm, has been engaged by the Company and its Nevada subsidiaries. As part of this engagement Mr. Ray [...]
VANCOUVER, Nov. 21, 2012 /CNW/ - Great Basin Gold Ltd. (the "Company") (NYSE MKT:GBG; JSE:GBG) announces that, in connection with its restructuring proceedings commenced under Canada's Companies' Creditors Arrangement Act ("CCAA"), an order (the "Order") was made yesterday by the Supreme Court of British Columbia (the "Canadian Court") on the [...]
Updates Insolvency Proceedings and Strategic Review ProcessJOHANNESBURG, SA, Nov. 15, 2012 /CNW/ - Great Basin Gold Ltd. ("Great Basin Gold"), (NYSE MKT: GBG; JSE: GBG) announces results for the quarter ended September 30, 2012 and updates the previously announced insolvency proceedings and the strategic review process. This release should be read [...]
JOHANNESBURG, SA, Oct. 4, 2012 /CNW/ - Great Basin Gold Ltd. ("Great Basin Gold"), (TSX: GBG; NYSE MKT: GBG; JSE: GBG) announces that further to its news release of September 20, 2012, the $35 million debtor-in-possession loan from its current lenders ("Lender DIP Loan") authorized by the Supreme Court of British Columbia on September 19 [...]
TORONTO, Sept. 25, 2012 /CNW/ - DELISTING REVIEW: Great Basin Gold Ltd. (the "Company") - Further to TSX Bulletin 2012-1017 dated September 19, 2012, TSX has determined to delist the Common Shares, Debentures and Warrants (Symbols: GBG, GBG.DB and GBG.WT) (collectively, the "Securities") of the Company at the close of market on October 25 [...]
JOHANNESBURG, SA, Sept. 20, 2012 /CNW/ - Great Basin Gold Ltd. ("Great Basin Gold"), (TSX: GBG; NYSE MKT: GBG; JSE: GBG) announces that it has agreed to a comprehensive term sheet from its existing bank lenders for a $35 million working capital loan which was approved as a debtor-in-possession ("DIP") loan by order of the British Columbia Supreme [...]
