(Source: MARKETWIRE)
Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") (TSX:
PTQ)(OTCBB: PTQMF)(FRANKFURT: P7Z) is pleased to announce that Mr.
Joao Manuel has been appointed as the Company's President and Chief
Executive Officer. Mr. Manuel joined the Company in December 2008 as
its Chief Operating Officer after serving as the Chief Financial
Officer of Petaquilla Copper Ltd. He will be leading the Company into
its future production development phases and the continued
exploration of the Petaquilla mining district where it owns a 100%
interest in several large mineral concessions adjacent to the Molejon
gold mine site. Additionally he will focus on the creation of
shareholder value through the spin-off of the Company's fully owned
subsidiary, Petaquilla Infrastructure Ltd., which was incorporated
for the construction, operation and management of infrastructure
facilities required for the development of the mining industry in
Panama.
The Company is also pleased to announce that Mr. Richard Fifer, who
has been involved with the Company's interests in Panama since 1992,
will serve as non-executive Chairman of the Board of Directors
The Board of Directors (see attachment) is looking forward to working
with Mr. Manuel and Mr. Fifer in their new capacities.
In addition to the management changes above, the Company announces
that it finalized a US$5,000,000 financing facility to strengthen its
capital position as it advances the Molejon gold project to the
commercial production stage. In this regard, the Company will shortly
be providing a year-to-date report on gold production and an update
on moving the mine into full commissioning.
About Petaquilla Minerals Ltd. - Petaquilla Minerals Ltd. is an
emerging gold producer commissioning the operation of its gold
processing plant at its 100% owned Molejon Gold Project. Anticipated
throughput for the project during the first year of commercial
production is estimated to be 2200 tonnes per day. The plant utilizes
three ball mills and a carbon-in-pulp processing facility.
On behalf of the Board of Directors of
PETAQUILLA MINERALS LTD.
Richard Fifer, Chairman
ATTACHMENT
Daniel Small, David Levy, David Kaplan and Raul Ferrer have joined
Richard Fifer as new directors of the Company.
Daniel Small is a Managing Director at the investment advising firm
of Platinum Management (NY) LLC ("Platinum"), where he leads the
firm's private placement group. Prior to joining Platinum, Mr. Small
was a Senior Analyst, who served on the investment committee at
Glenview Capital Management, a $7 billion hedge fund. He is a former
Director of the Strategic Risk Group at Merrill Lynch responsible for
a $1 billion multi-strategy proprietary investing platform. As a
former Director in the Mergers & Acquisitions Department at SG Cowen
Securities, he advised corporations in the financing and
restructuring of public and private corporations. Mr. Small is a
graduate of the Wharton School of the University of Pennsylvania and
earned a doctorate in law from the University of Pennsylvania Law
School.
David Levy is a member of the private placement group at Platinum and
has participated in over 25 capital raising transactions for public
and private corporations. He specializes in structuring and
negotiating financings at all levels of the capital structure through
extensive industry research, financial analysis and modeling. Mr.
Levy graduated with honors from Sy Syms School of Business of Yeshiva
University.
David Kaplan is a key member of LIM Advisors LLC, a multi-strategy
investment group. He manages a portfolio of metal and energy futures
and securities for a commodity hedge fund. He is a former
Vice-President of Gerald Metals Inc., financial analyst with Glencore
Ltd., and graduate of the Wharton School of the University of
Pennsylvania
Raul Ferrer is a leading financial advisor to a number of businesses
operating in Panama, the second largest financial offshore center in
the world. He is a former financial investments director with the
Panamanian equity investment firm, Wall Street Securities.
The Company's new Board of Directors reflects the strong financial
profile of its members and is aligned with Petaquilla's strategic
goal to pursue a leadership role in the development of gold and
copper opportunities in the emerging Panamanian mining industry.
Contacts:
Petaquilla Minerals Ltd.
Richard Fifer
Chairman
(604) 694-0021 or Toll-free: 1 (877) 694-0021
(604) 694-0063 (FAX)
www.petaquilla.com
SOURCE: Petaquilla Minerals Ltd.
A service of YellowBrix, Inc.
