CALGARY, Oct. 25, 2013 /PRNewswire/ - Gran Tierra Exchangeco Inc. ("Exchangeco") (TSX: GTX) and Gran Tierra Energy Inc. ("Gran Tierra Energy") (NYSE MKT: GTE, TSX: GTE), announce that, in accordance with the terms and conditions of the exchangeable shares (the "Exchangeable Shares") of Exchangeco, the board of directors of Exchangeco has determined that the redemption date for the Exchangeable Shares (the "Redemption Date") will be extended from November 14, 2013 to such later date as may be established by the board of directors of Exchangeco at its discretion. Pursuant to the terms and conditions of the Exchangeable Shares, the board of directors of Exchangeco is entitled to establish a Redemption Date at its discretion. The previously disclosed Redemption Date of November 14, 2013 was originally set out in the Joint Management Information Circular and Proxy Statement of Gran Tierra Energy Inc. and Solana Resources Limited dated October 10, 2008 (the "Circular") and was based upon a prior determination of the board of directors of Exchangeco to redeem the Exchangeable Shares on such date. If the board of directors of Exchangeco establishes a new Redemption Date, notice of such date will be provided to the holders of Exchangeable Shares. Except with respect to such Redemption Date, the terms and conditions of the Exchangeable Shares, as previously set forth in the Circular, continue to be applicable in all respects, including without limitation in respect of the rights of retraction and exchange of the holders of the Exchangeable Shares, and this press release should be read in conjunction therewith.

Questions and requests for assistance relating to the exercise of a holder's rights of exchange or retraction of the Exchangeable Shares may be directed to the transfer agent for the Exchangeable Shares, Computershare Trust Company of Canada, between the hours of 8:30 a.m. and 8:00 p.m. Eastern Time, at 1-800-564-6253 (toll free in Canada and the United States of America) or +1-514-982-7555 (international direct dial).

About Exchangeco

Exchangeco is a subsidiary of Gran Tierra Energy. Exchangeco does not carry on any business independently; rather, the Exchangeable Shares are exchangeable into common stock of Gran Tierra Energy and have, in accordance with their terms and certain contractual arrangements, the same voting rights and other attributes as the common stock of Gran Tierra Energy.

About Gran Tierra Energy

Gran Tierra Energy is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated in the United States, trading on the NYSE MKT (GTE) and the Toronto Stock Exchange (GTE), and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Colombia, Argentina, Peru, and Brazil. Gran Tierra Energy has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.

Gran Tierra Energy's Securities and Exchange Commission filings are available on a web site maintained by the Securities and Exchange Commission at http://www.sec.gov and on SEDAR at http://www.sedar.com.

SOURCE Gran Tierra Energy Inc.