Petaquilla Copper Ltd.

Petaquilla Copper Ltd.

January 11, 2008 20:00 ET

Petaquilla Copper Ltd. Closes Third Tranche of Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 11, 2008) - Petaquilla Copper Ltd. (the "Company") (TSX:PTC) announces that it has closed the third tranche of its non-brokered private placement (the "Private Placement"), issuing a total of 750,000 Units at a price of $3.50 per Unit and raising gross proceeds of $2,625,000.00.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of $5.50 per share for a period of two years from closing.

All securities distributed under the Private Placement are subject to a four-month plus one day hold period expiring on May 9, 2008.

In connection with the closing of this tranche, the Company has paid finders' fees in the amount of $49,000.00 cash.

The proceeds of the Private Placement will be used for general corporate purposes and working capital to advance the Petaquilla copper project in Panama.

The securities offered will not be and have not been registered under the United States Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.

About Petaquilla Copper Ltd. - Petaquilla Copper Ltd. is a mineral exploration firm headquartered in Vancouver, Canada. Its shares are listed on the Toronto Stock Exchange under the symbol PTC. The Company holds 52% of Minera Petaquilla, S.A., a joint venture company developing its world-class copper deposit in the Republic of Panama. The remaining 48% is held by Inmet Mining Corporation.

On behalf of the Board of Directors of PETAQUILLA COPPER LTD.

John Cook, President and Director

No stock exchange has approved or disapproved the information contained herein.

Contact Information

  • Petaquilla Copper Ltd.
    John Cook
    President and Director
    (604) 694-0021 or Toll Free: 1-877-694-0021
    (604) 694-0063 (FAX)