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Great Basin Announces Retention of Roth Capital Partners as Financial Advisor in Restructuring of the Company’s Series C Warrants

SALT LAKE CITY--(BUSINESS WIRE)--Great Basin Scientific, Inc. (NASDAQ:GBSN), a molecular diagnostics company, announced today that it has retained Roth Capital Partners as financial advisor to assist in a restructuring of the Company’s Series C Warrants. The Series C Warrants were issued as part of the Unit offering the Company completed on March 2, 2015. The Company is also preparing to file a proxy statement and hold a special shareholder meeting to seek approval to effect a reverse stock split and authorize additional common shares to meet its obligation to deliver common shares under the cashless exercise provision of the Series C Warrants.

“We are utilizing the funds raised in March to expand our R&D team, which will fast-track 2016 menu development and product commercialization. Further, we have doubled the size of our sales team to accelerate customer acquisition in Q4 of 2015 and the first half of 2016.”

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“While the recent Series C Warrant exercises have put our stock under greater than expected pressure, we...