Petaquilla Copper Ltd.

Petaquilla Copper Ltd.

March 30, 2007 22:00 ET

Petaquilla Copper Ltd. Closes Second Tranche of Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2007) - Petaquilla Copper Ltd. ("the "Company") announces that it has closed the second tranche of its non-brokered Private Placement (the "Private Placement"), issuing a total of 2,147,000 Units, at a price of $2.00 per Unit, and raising gross proceeds of $4,294,000 CAD.

Each Unit consists of one common share and one half of one transferable share purchase warrant of the Company, with each full warrant entitling the holder to purchase one additional common share of the Company for a period of five years at a price of $3.50 per share subject to certain accelerated expiry provisions. The securities issued are subject to a four month hold period.

In connection with the second tranche, the Company has paid a finder's fee of $200,000 CAD and issued 100,000 compensation warrants. The compensation warrants bear the same terms and conditions as the share purchase warrants forming part of the Units.

The Company has raised $16,323,600 CAD to date and intends to raise a total of $40,000,000 CAD through the Private Placement of 20,000,000 Units. The balance of the Private Placement will close in subsequent tranches.

The proceeds of the Private Placement will be used for working capital and to advance the Petaquilla Copper Project in Panama.

About Petaquilla Copper Ltd.

Petaquilla Copper Ltd. is a British Columbia company, which holds a 52% interest in the Petaquilla Copper Project.

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 1-877-694-0021
    (604) 694-0063 (FAX)