Petaquilla Minerals Ltd.
TSX : PTQ
OTC Bulletin Board : PTQMF
FRANKFURT : P7Z

Petaquilla Minerals Ltd.

December 11, 2006 03:05 ET

Petaquilla Minerals Ltd. Announces Results of Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 11, 2006) - Michael Levy, the President of Petaquilla Minerals Ltd. ("PTQ" or the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FWB:P7Z), is pleased to announce that shareholders approved both resolutions brought before them at the Company's Special Meeting of Shareholders held in Vancouver on December 8, 2006.

Shareholders, by way of a disinterested shareholder vote, approved without amendment the issuance of 361,405 compensation share purchase warrants to Casimir Capital LP and the issuance of 361,405 common shares of the Company upon the due exercise of such share purchase warrants. Casimir Capital LP had acted as a financial advisor to the Company in connection with the Company's Private Placement, which closed on October 17, 2006.

Shareholders, by way of a disinterested shareholder vote, also approved without amendment the adoption of a new stock option plan (the "New Plan") for the Company, establishing the maximum number of shares that may be issued pursuant to the exercise of options granted under the New Plan at 10,000,000 shares. The number of Common Shares issuable under the New Plan equals, on a non-diluted basis, 11.2% of the Company's issued and outstanding Common Shares as of today's date.

No further business came before the meeting.

The statements contained in this news release that are not purely historical are forward-looking statements. Forward-looking statements may relate to the success of any of the Company's strategic initiatives, the Company's expectations, beliefs, growth and future prospects, and the Company's position in the market and future opportunities therein. Forward-looking statements may also include, without limitation, any express or implied statement relating to future events, industry performance, general business and economic conditions or circumstances, regulatory and legal requirements, and other matters, many of which are beyond the control of the Company. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. All forward-looking statements included in this news release are based upon information available to the Company as of the date hereof and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

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

Michael Levy, President and Director


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

Contact Information

  • Petaquilla Minerals Ltd.
    Michael Levy
    President and Director
    (604) 694-0021
    (604) 694-0063 (FAX)
    Website: www.petaquilla.com