TORONTO, Oct. 29, 2014 /CNW/ - Aterra Investments Limited ("Aterra") announces that on October 27, 2014, it entered into a share purchase agreement with a third party whereby Aterra has agreed to sell 6,666,667 common shares (the "Disposition Shares") of GB Minerals Ltd. ("GB Minerals") at a price of $0.075 per share. Aterra expects to complete the sale of the Disposition Shares on or about October 30, 2014. The Disposition Shares represent approximately 3.1% of the outstanding common shares of GB Minerals.
Upon the completion of the sale of the Disposition Shares and taking into account its prior acquisition from GB Minerals of 1,559,234 common shares in connection with a debt settlement transaction announced by GB Minerals on October 1, 2014, Aterra will own 109,907,231 common shares of GB Minerals representing approximately 51.6% of the outstanding common shares.
The sale of the Disposition Shares was completed as part of Aterra's ongoing management of its financial interest in GB Minerals. Aterra 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
For further information: including a copy of the corresponding report filed with Canadian securities regulators, contact: Mr. Andrie Christou, +357 2 500 1500, Aterra Investments Limited, c/o Trident Trust Company (BVI) Ltd., Trident Chambers, Wickhams Cay, P.O. Box 146, Road Town, Tortola, British Virgin Islands