RPT Petaquilla says closes first tranche of private placing to raise 23 mln usd |
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Published
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Thu, 27 Dec 2007 10:28
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(clarifies that the holder of each 'whole warrant' gets rights to buy more shares in 3rd paragraph)VANCOUVER (Thomson Financial) - Petaquilla Copper Ltd said it closed the first tranche of its non-brokered private placement to raise about 23 mln usd via an issue of 6.57 mln units at 3.50 usd apiece.Petaquilla said it will use the proceeds for general corporate purposes and to fund its working capital needs, to advance its copper project in Panama.Each unit issued contains one share and one-half of a warrant, the release said, adding that the holder of each whole warrant is entitled to purchase one additional share at 5.50 usd a share for a period of two year from closing.Petaquilla Copper Ltd, a British-Columbia company, had entered into an arrangement with Petaquilla Minerals Ltd (PTQ) under which the latter transferred to Petaquilla an indirect 52 pct stake in Minera Petaquilla SA.TFN.newsdesk@thomson.comjjo/ssa/ssa/ajbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Petaquilla says closes first tranche of private placing to raise 23 mln usd 