Great Basin Scientific Announces Annual Meeting Results

Great Basin Scientific, Inc. (Nasdaq:GBSN), a molecular diagnostics
company, announced today approval of all but one proposal during the
2016 Annual Meeting of Stockholders. Shareholders elected two members to
the Board of Directors and approved the Series E Warrants Exchange, the
Nasdaq 20% Issuance, and the Adjournment proposals. Shareholders also
approved a reverse stock split and ratified the appointment of the
Company’s independent registered public accounting firm. Shareholders
did not approve an increase in the number of authorized shares from 200
million to 350 million.
An independent Inspector of Elections certified all voting results for
the Annual Meeting, which was held today. There were 41,124,301 total
shares outstanding and entitled to vote as of the record date of August
9, 2016.
The final tabulation of votes for each proposal is as follows:
Proposal 1 – Shareholders elected Messrs. Chawla and Labrum to
three-year terms by a plurality of the votes cast. A total of 17,727,356
shares voted on Proposal 1.

Proposal 2 – Shareholders approved the exchange of all Series E
Warrants for 650,160 shares the Company’s common stock (the “Series E
Warrant Exchange Proposal”). A total of 17,727,356 shares voted on
Proposal 2.

Proposal 3 – Shareholders voted to permit the potential issuance
under Nasdaq listing rules of more than 20% of outstanding common stock
upon conversion of $75 million of senior secured convertible notes
issued July 1, 2016 and removal of the floor price on the related Series
H Warrants and subordination warrants (the “Nasdaq 20% Issuance
Proposal”). A total of 17,727,356 shares voted on Proposal 3.

Proposal 4 – Shareholders approved a reverse stock split of
outstanding common stock at a ratio between 40-to-1 and 80-to-1, with
the ratio and effective date to be determined by the Board of Directors
prior to December 31, 2016 (the “Reverse Stock Split”). A total of
29,175,359 shares voted on Proposal 4, with 24,984,519 voting FOR the
proposal, representing a majority of total shares outstanding and
entitled to vote as of the record date.

Proposal 5 – A total of 17,727,356 shares voted on Proposal 5,
representing 43.09% of total shares outstanding. Proposal 5 required a
majority of total shares outstanding and entitled to vote as of the
record date to be voted FOR the proposal in order to be passed. Since a
majority of total shares outstanding and entitled to vote as of the
record date were not voted FOR the proposal, the proposal did not pass.
Proposal 5 would have increased the number of authorized shares of the
Company’s common stock from 200,000,000 to 350,000,000 shares, par
values $0.0001 (the “Authorized Share Increase”).

Proposal 6 – Shareholders ratified BDO USA, LLP as the Company’s
independent registered public accountants for fiscal 2016. A total of
29,175,359 shares voted on Proposal 6.

Proposal 7 – Shareholders authorized an adjournment of the Annual
Meeting to solicit additional proxies had there been insufficient votes
to approve the above proposals (the “Adjournment Proposal”). A total of
17,727,356 shares voted on Proposal 7.

A complete description of each proposal can be found in the Company’s
proxy statement, filed with the U.S. Securities and Exchange Commission
on August 22, 2016.
About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that
commercializes breakthrough chip-based technologies. The Company is
dedicated to the development of simple, yet powerful, sample-to-result
technology and products that provide fast, multiple-pathogen diagnoses
of infectious diseases. The Company’s vision is to make molecular
diagnostic testing so simple and cost-effective that every patient will
be tested for every serious infection, reducing misdiagnoses and
significantly limiting the spread of infectious disease. More
information can be found on the Company’s website at www.gbscience.com.
Forward-Looking Statements
This press release includes forward-looking statement regarding events,
trends and business prospects, which may affect our future operating
results and financial position, including but not limited to statements
regarding the Company’s business strategy and vision. Forward-looking
statements involve risk and uncertainties, which could cause actual
results to differ materially, and reported results should not be
considered as an indication of future performance. These risk and
uncertainties include, but are not limited to: (i) our limited operating
history and history or losses; (ii) our ability to develop and
commercialize new products and the timing of commercialization; (iii)
our ability to obtain capital when needed; and (iv) other risks set
forth in the Company’s filings with the Securities and Exchange
Commission, including the risks set forth in the company’s Annual Report
on Form 10-K for the year ended December 31, 2015 and Quarterly Report
on Form 10-Q for the quarter ended June 30, 2016. These forward-looking
statements speak only as of the date hereof and Great Basin Scientific
specifically disclaims any obligation to update these forward-looking
statements, except as required by law.