TORONTO, Nov. 28, 2014 /CNW/ - Aterra Investments Limited ("Aterra") announces that on November 27, 2014, in connection with a private placement (the "Offering") of up to 40,000,000 common shares ("Common Shares") of GB Minerals Ltd. ("GB Minerals"), Aterra entered into a subscription agreement to, subject to certain closing conditions, subscribe for 26,666,667 Common Shares (the "Subscribed Shares") at a price of $0.075 per share. Assuming the Offering is fully subscribed, the Subscribed Shares will represent approximately 10.5% of the then outstanding Common Shares.
Aterra currently owns 109,907,231 Common Shares of GB Minerals. Assuming the Offering is fully subscribed, and assuming no other new issuances of Common Shares by GB Minerals at or prior to such time, upon the closing of the Offering Aterra will beneficially own an aggregate of 136,573,898 Common Shares, representing approximately 54.0% of the then outstanding Common Shares.
Aterra is acquiring the Subscribed Shares 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
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