Peninsula Merchant Syndications Corp.

December 21, 2009 20:34 ET

Peninsula Merchant Syndications Corp. Acquires Position in Petaquilla Minerals Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2009) - Peninsula Merchant Syndications Corp. ("Peninsula") is issuing this press release pursuant to the early warning requirements of applicable securities laws in Canada with respect to Petaquilla Minerals Ltd. (the "Issuer" or "PTQ").

Pursuant to a private agreement, Peninsula has acquired previously issued warrants to purchase up to a total of 11,040,500 common shares of the Issuer (the "Warrants"), exercisable at a price of CAD$0.65 per share. 4,260,000 of the Warrants are exercisable until May 21, 2013 and 6,780.500 are exercisable until July 9, 2013. The Warrants were acquired for US$0.05 each (CAD$0.053).

Prior to the acquisition, Peninsula held an aggregate of 7,549,900 common shares of the Issuer. Assuming full exercise of the Warrants, Peninsula would hold approximately 14.2% of the issued and outstanding common shares of the Issuer.

Peninsula acquired these securities for investment purposes. Peninsula intends to purchase additional securities of the Issuer, whether through the facilities of the Toronto Stock Exchange, through private transactions or otherwise, subject to market conditions and other factors as well as applicable securities laws. At the current time, however, Peninsula does not intend to acquire more than 19.99% of the outstanding shares of the Issuer (assuming full exercise of the Warrants and any other convertible securities of the Issuer that Peninsula may acquire).

Peninsula Merchant Syndications Corp. is a private merchant bank controlled by Sam Magid.

For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact:

Rahim Rajwani
Executive Vice-President
Peninsula Merchant Syndications Corp.
Suite 1068, 550 Burrard Street
Vancouver, BC V6C 2B5
Tel: (604) 689-9946

Contact Information

  • Peninsula Merchant syndications Corp.
    Rahim Rajwani
    Executive Vice-President
    (604) 689-9946