Peninsular Gold Limited - issuance of convertible notes

Jonathan Rigby and Warren Simmons advised on the issuance by Peninsular Gold Limited of first tranche U.S.8,000,000 10.5%. secured convertible notes due 2012. The notes are convertible into the ordinary shares of Peninsular Gold Limited. The issuance was arranged by Lehman Global Principal Strategies who will also be the principal investor in the notes. The note purchase agreement makes provision for the issuance of up to U.S.12,000,000 in aggregate principal amount of further notes.

July 2007