TORONTO, Aug. 29, 2013 /CNW/ – Aterra Investments Limited (“Aterra”)
announces that on August 28, 2013, pursuant to a private placement by
GB Minerals Ltd. (“GB Minerals”), Aterra acquired an aggregate of
15,000,000 common shares of GB Minerals (the “Purchased Shares”) at a
price of $0.20 per share. The Purchased Shares represent approximately
27.3% of the currently outstanding common shares of GB Minerals. Prior
to its purchase of the Purchased Shares, Aterra owned 11,067,450 common
shares (the “Owned Shares”), which together with the Purchased Shares
represent approximately 47.4% of the currently outstanding common
shares.

Also, on August 5, 2013, Aterra completed the purchase, at par plus
accrued and unpaid interest, of $100,000 aggregate principal amount of
outstanding secured convertible debentures due March 31, 2014 (the
“Purchased Debentures”) of GB Minerals pursuant to a purchase agreement
between Aterra and a third party seller. The Purchased Debentures are
in addition to $2,000,000 aggregate principal amount of secured
convertible debentures due March 31, 2014 (the “Owned Debentures”)
previously issued to Aterra by GB Minerals. The Purchased Debentures
and the Owned Debentures (together, the “Debentures”) bear interest at
10% per annum. Every $1,000 principal amount of Debentures is
convertible at any time, at the holder’s option, into 5,000 common
shares at a price of $0.20 per share. At the time of Debenture
conversion, any and all accrued interest is also convertible at the
holder’s option into common shares at the same conversion price.

In addition to the Purchased Shares, the Owned Shares and the
Debentures, Aterra owns warrants (“Warrants”) to purchase an additional
703,125 common shares of GB Minerals. Assuming Aterra were to fully
convert its $2,100,000 aggregate principal amount of Debentures, but
none of the interest thereon, and exercise all its Warrants, and
assuming no other new issuances of common shares by GB Minerals at or
prior to such time, Aterra would acquire 10,500,000 common shares upon
conversion of the Debentures and an additional 703,125 common shares
upon exercise of the Warrants, representing approximately 15.9% and
1.1%, respectively, of the then outstanding common shares after giving
effect to such conversion and exercise. Of these, the 500,000 common
shares issuable upon the exercise of the Purchased Debentures would
represent 0.8% of the then outstanding common shares. Taking into
account the common shares acquired upon such conversion and exercise,
together with the Purchased Shares and the Owned Shares, Aterra would
beneficially own an aggregate of 37,270,575 common shares of GB
Minerals, representing approximately 56.3% of the then outstanding
common shares.

Aterra acquired the Purchased Shares and the Purchased Debentures for
investment purposes and continues to monitor the business, prospects,
financial condition and potential capital requirements of GB Minerals.
Depending on its evaluation of these and other factors, Aterra may from
time to time in the future increase or decrease its ownership, control
or direction over the common shares or other securities of GB Minerals
through market transactions, private agreements, subscriptions from
treasury or otherwise.

SOURCE Aterra Investments Limited