NEWS RELEASE FOR:
STRATEGEM CAPITAL CORPORATION.
VANCOUVER, BRITISH COLUMBIA – September 2, 2005 – Strategem Capital Corporation (“Strategem” or the “Company”) (TSX-V: SGE) announced today that it has acquired additional common shares of Petaquilla Minerals Ltd..
The company has increased its share ownership as a result of the following transactions:
- During the period from April 20, 2004, to August 8, 2005, the Company acquired a total of 1,733,000 Shares of Petaquilla Minerals Ltd. either in the public market (413,000 Shares), or by way of the exercise of share purchase warrants (1,320,000 Shares). During this same period, the Company sold a total of 739,500 Shares of Petaquilla Minerals Ltd., either in the public market (577,000 Shares) or in private transactions (162,500 Shares). These Transactions represented a net increase of 993,500 Shares of the Company’s shareholdings of Petaquilla Minerals Ltd., bringing its total shareholdings to 6,993,500 Shares. At no time during this period did the Company acquire 2% of more of Petaquilla Mineral Ltd.’s issued and outstanding share capital.
- On August 11, 2005, the Company exercised warrants and acquired 300,000 Shares of Petaquilla Minerals Ltd. at a price of $0.25, increasing the Company’s shareholdings to 7,293,500 Shares.
- On August 15, 17 and 18, 2005, the Company acquired a further 50,000 Shares of Petaquilla Minerals Ltd., increasing its shareholdings 7,343,500 Shares.
The Company’s total shareholdings in Petaquilla Minerals Ltd. have increased to 7,343,500 Shares from 6,000,000 Shares, representing a net increase of 1,343,500 Shares or approximately 2.5% of Petaquilla’s currently issued and outstanding share capital of 54,686,003 Shares.
Prior to the transactions noted above, the Company owned directly or indirectly 6,000,000 Shares of Petaquilla Minerals Ltd., or approximately 14.4% of the issued and outstanding share capital of the Company. As a result of the transactions, the Company now owns directly or indirectly a total of 7,343,500 Shares, or approximately 13.4% of Petaquilla Mineral Ltd.’s currently issued and outstanding share capital. The percentage decrease is as a result of other share issuances by Petaquilla Minerals Ltd.
About Strategem Capital
Strategem Capital Corporation is a publicly-traded merchant bank focused on the development of emerging companies with growth potential. The Company invests in debt and/or equity positions in these companies.
This release and prior releases are available on the Company’s Internet web site located at www.strategemcapital.com.
BY ORDER OF THE BOARD OF DIRECTORS
“Kenneth W. Morgan”
Kenneth W. Morgan, CA, CPA
President, CEO and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Not for dissemination in the United States.