September 02, 2014 16:23 ET
TORONTO, ONTARIO--(Marketwired - Sept. 2, 2014) - Alpha Infrastructure LLC (the "Company") announced today that it has acquired ownership and control over 30,608,675 common shares (the "Purchased Shares") of GB Minerals Ltd. ("GB Minerals"). The Purchased Shares were acquired pursuant to a private placement offering of up to 146,666,666 common shares of GB Minerals which closed today and were subject to the terms of a subscription agreement dated August 19, 2014.
Prior to the acquisition of the Purchased Shares, the Company exercised control over 15,096,946 common shares (the "Existing Shares") and $1,000,000 principal amount of convertible debentures (the "Debentures") of GB Minerals representing 21.36% of the issued and outstanding common shares of GB Minerals on a diluted basis.
If the Company fully exercised its conversion right over the Debentures it would acquire control over an additional 5,000,000 common shares of GB Minerals, which together with the Purchased Shares and the Existing Shares would result in control over 50,096,946 common shares or 22% of the issued and outstanding common shares of GB Minerals, assuming only the conversion of those Debentures acquired by the Company.
The Purchased Shares were acquired by the Company for investment purposes. The Company may from time to time, increase or decrease its ownership of securities of GB Minerals depending upon future market conditions.
Alpha Infrastructure LLCBrent de Jong1 713 239 2701
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