Petaquilla Minerals Ltd.
OTC Bulletin Board : PTQMF

Petaquilla Minerals Ltd.

April 18, 2007 19:30 ET

Petaquilla Minerals Ltd.: Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2007) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) is pleased to announce that, subject to regulatory approval, it has negotiated a non-brokered private placement of 1,250,000 units at a price of $2.00 per unit for gross proceeds in the amount of $2,500,000 CAD.

Each unit will consist of one common share and one-half of one share purchase warrant, where each full warrant entitles the holder to purchase an additional common share of the Company for a period of two years at a price of $3.50 per share subject to certain accelerated expiry provisions.

The private placement has been arranged for a strategic investment group and all securities purchased under the private placement and shares issued on the exercise of any warrants will be subject to a four month hold period.

The proceeds of the private placement will be used for general corporate purposes and working capital.

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.

Richard Fifer, President and Chief Executive Officer

No Stock Exchange has approved or disapproved the information contained herein.

Contact Information

  • Petaquilla Minerals Ltd.
    Richard Fifer
    Chief Executive Officer
    (604) 694-0021 or Toll Free: 1-877-694-0021
    (604) 694-0063 (FAX)