Aterra Investments Acquires Additional Common Shares of GB Minerals Ltd.

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

For further information, including a copy of the corresponding report filed with Canadian securities regulators, contact:

Mr. Andrie Christou
[phone]

Aterra Investments Limited
c/o Trident Trust Company (BVI) Ltd.
Trident Chambers
Wickhams Cay, P.O. Box 146
Road Town, Tortola
British Virgin Islands