Petaquilla gets C$11.8 million; eTelcharge wraps $1.5 million; Macarthur takes C$2.1 million

By LLuvia Mares

New York, Jan. 4 - Leading PIPEs news, Petaquilla Copper Ltd. settled C$11.8 million in the first tranche of a non-brokered private placement of units.

"We won't be looking into additional funding after this close, the money will be used for general corporate purposes and for further exploration," said a company insider. "There is also a possibility we may be bringing in about another $10 million."

The C$50.75 million deal priced on Dec. 14, and the company raised C$23 million in the first tranche on Dec. 24.

In that first tranche, Petaquilla Copper sold 6,571,200 units. It sold 3.37 million units in the latest tranche.

The company plans to sell a total of 14.5 million units at C$3.50 each. The units consist of one share and one half-share warrant with each whole warrant exercisable at C$5.50 for two years.

The company's stock (Toronto: PTQ) closed at C$3.28 on Friday, down C$0.02 from Wednesday's C$3.30 close.

Proceeds will be used for general corporate purposes and working capital.

Vancouver, B.C.-based Petaquilla Copper is a copper exploration company.

eTelcharge settles $1.5 million

eTelcharge.com said its private placement of a $1.5 million secured convertible debenture is about more than just raising money.

"One of the things that we are so excited about making this deal is that Golden Gate has been in this space and under stand it very well," said Robert Howe, company chairman and chief executive officer. "So this is not just a straight up money deal it's more of a partnership. [Golden Gate] has a smart and capable group of people, making this a very attractive deal."

Golden Gate Investors, Inc. received the debenture in exchange for $200,000 of cash and a note for $3.3 million.

"What we are doing right now is focusing on executing our plan and building up the business the way we have wanted to," he said. "However, that may include acquisitions of new technology and some additional financing. The most important thing is that now we have a map and we are on our way to following it."

Golden Gate will be required to buy up to three additional $1.5 million debentures on the same terms when no more than $250,000 of the previous debenture remains outstanding. Golden Gate may eliminate that obligation by paying $100,000.

The debenture matures on Dec. 26, 2011 and bears interest at 7.25% per year. It is convertible into common stock at the least of $0.50 and the three lowest volume weighted average prices of the stock during the 20 trading days before conversion.

Interest on the convertibles will be payable monthly in cash or in stock at the then-applicable conversion price.

The company's stock (OTCBB: ETLC) closed at $0.059 on Friday, up $0.0050 from Thursday's $0.054 close.

The note issued by Golden Gate matures on Jan. 31, 2012 and bears interest at 8% per year. Interest on that note will be payable monthly.

eTelcharge is an online currency company based in Desoto, Texas.

Macarthur wraps C$2.1 million

In the mining sector, Macarthur Minerals Ltd. announced it raised C$2.1 million in the first tranche of a non-brokered private placement of units and plans to use the money for stage four of its drilling project.

"With the money from this transaction we will be able to advance our drilling project at Lake Giles," said Gia Van Tran, company corporate relations manager.

"We also have another transaction for $110 million in the works, which will be used for an acquisition in Australia. If that transaction goes through it will give shareholders a dividend of $3 to $4 per share."

The deal priced for up to C$2.8 million on Nov. 22. The balance of the placement is expected to be completed in mid-January.

In this tranche, Macarthur sold 1.5 million units C$1.40 apiece. First Apollo Capital Ltd. bought 1 million units for C$1.4 million and Pinetree Capital Ltd. bought 500,000 units for C$700,000.

The company plans to sell up to 2 million units at that price. Each unit will consist of one common share and one warrant, with each warrant exercisable at C$2.00 for 18 months. The company has firm commitments for 1 million units, or C$1.4 million.

Macarthur's stock (TSX Venture: MMS) closed at C$1.80 on Thursday and did not see any activity Friday.

Macarthur is a mineral exploration company based in Vancouver, B.C.

Railpower gets C$35 million

In other news, Railpower Technologies Corp. was ecstatic after completing a C$35 million private placement of a convertible debenture with Ontario Teachers Pension Plan Board.

"With this investment, we believe we now have the necessary base to consolidate our leadership in the locomotive market in North America, pursue our research and development efforts and expand our marketing activities in other geographic areas," said José Mathieu, company president and chief executive officer, in a press release.

"We appreciate the confidence in our corporation's potential that OTPP demonstrated by making this investment as well as our shareholders' support who voted massively in favor of the placement."

The five-year note has a 5% coupon, payable semi-annually in either cash or common shares, at Railpower's option. The conversion price is C$0.30 per share.

The company's stock (Toronto: P) closed at C$0.59, down C$0.14 from Thursday's C$0.73 close.

Based in Toronto, Railpower produces energy technology systems for the transportation sector.

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