entitlement at .06 with free option

31 Ord Street, West Perth WA 6005,
PO Box 781, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
11 April 2007
Companies Announcement Office
Via Electronic Lodgement
NON-RENOUNCEABLE ENTITLEMENT ISSUE
As announced on 27 February 2007, Peninsula Minerals Limited (Peninsula)
recently entered into a heads of agreement with PacMag Metals Limited
(PacMag) to expand its uranium portfolio through the acquisition of 100% of
PacMag’s uranium exploration assets which are located in Wyoming USA, South
Australia and Western Australia (Acquisition). Completion of the Acquisition is
subject to Peninsula and PacMag shareholder approval respectively at Extraordinary
General Meetings (EGM) anticipated to be held in May 2007.
Entitlement Issue
Peninsula is pleased to announce a non-renounceable entitlement issue (Entitlement
Issue) of one (1) fully paid ordinary share with one (1) free attaching option for every ten
(10) shares held in Peninsula at an issue price of 6 cents per share to raise approximately
$5.092 million. The options will have an exercise price of 10 cents and will expire on 30
June 2010. It is intended that the options be quoted on the ASX.
The funds raised from the Entitlement Issue will be used to further exploration on
Peninsula’s uranium assets (assuming completion of the Acquisition) and provide
additional working capital.
It is anticipated that the Entitlement Issue will take place following completion of the
Acquisition and subsequent to PacMag’s in specie distribution of the Pensinsula
consideration shares forming part of the Acquistion. To accommodate PacMag
shareholders the record date for the Entitlement Issue will occur after the despatch
date for the in-specie distribution.
Underwriting Agreement
An underwriting agreement has been entered into with Euroz Securities Limited (Euroz),
to underwrite a minimum shortfall of 50 million shares under the Entitlement Issue
(Underwriting Agreement). Under the terms of the Underwriting Agreement and in the
event that there is a shortfall from the Entitlement Issue which is less than 50 million
shares, Peninsula will undertake a placement (as soon as possible after the closing date
of the Entitlement Issue) through Euroz, for the balance of the shares, up to a maximum 31 Ord Street, West Perth WA 6005,
PO Box 781, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
of 50 million shares (to raise up to a further $3 million). The Placement will be made on
the same terms and conditions as the Entitlement Issue and will be subject to
shareholder approval at the Peninsula EGM. The Underwriting Agreement is subject to
completion of the Acquisition, shareholder approval of the Placement and due
diligence and sub-underwriting conditions.
Full details of the Entitlement Issue including an indicative timetable will be released to
the market as soon as the dates for the respective Peninsula and PacMag EGMs are
finalised.
Capital Structure
The capital structure of Peninsula subsequent to the Acquisition and upon completion
of the Entitlement Issue will be as follows:
Shares Number
Share Capital Post Acquisition 848,767,237
Rights Issue – Capital Raising* 84,876,724
Total Shares 933,643,961
Options
Existing Options 26,500,000
Options under Rights Issue* 84,876,724
Total Options 111,376,724
Fully Diluted Share Capital 1,045,020,685
* Assuming full take up and no further securities issued pursuant to the Euroz top-up placement facility.
On behalf of the Board of
Peninsula Minerals Limited
Malcolm James
Chairman
For further information, please contact either Malcolm James or Jonathan Whyte on
(08)9420 9333 during normal business hours.