Great Basin Announces Receipt of NASDAQ Notice of Non-Compliance

Great Basin Scientific, Inc. (Nasdaq:GBSN), a molecular diagnostics company, today announced that on October 14, 2015, the Company received notice from the NASDAQ Listings Qualifications Staff indicating that the Company did not satisfy the minimum $35 million market value of listed securities and $1.00 bid requirements for continued listing on The NASDAQ Capital Market, as set forth in NASDAQ Listing Rules 5550(b) and 5550(a) price, respectively (the “Rules”). In accordance with the NASDAQ Listing Rules, the Company has been provided a grace period of 180 calendar days, through April 11, 2016, to evidence compliance with the Rules. In order to satisfy the Rules, the Company must evidence a market value of listed securities of at least $35 million and a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days (and generally not more than 20 business days) on or before April 11, 2016. The notice has no effect on the listing or trading of the Company’s common stock on The NASDAQ Capital Market at this time.

The Company is considering its options to address the deficiencies, including as previously announced to file a proxy for a special shareholders meeting to solicit a vote on the implementation of a reverse stock split to evidence compliance with the $1.00 bid price requirement.

In the event the Company does not regain compliance with the minimum bid price rule within the 180-day grace period, it may be eligible to receive an additional 180-day grace period; provided, that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The NASDAQ Capital Market, including the market value of its listed securities with the exception of the bid price rule, and provides written notice of its intention to cure the bid price rule deficiency during the second 180-day grace period, by effecting a reverse stock split, if necessary. The 180-day grace period is not available for regaining compliance with the minimum market value of listed securities rule.

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 statements, including but not limited to, statements regarding the intention of the management of the Company to allow for the continued listing of the Company’s common stock on The Nasdaq Capital Market, including a potential special stockholder meeting to effect a reverse split. Forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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: actions that could be taken by members of the Nasdaq staff and any exercise of discretion by members of the Nasdaq staff with respect to compliance by the Company with the Nasdaq Listing Rules, the general direction of stock prices in the United States and in the Company’s industry, the demand for the Company’s products, the ability of the Company to produce the products to meet the demand, the Company’s ability to raise funds to meet its ongoing obligations and implement its current plan of operations and 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, 2014. 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.

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