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Patagonia Gold successfully closes £6.9M subscription, open offer

Patagonia GoldPlc announced May 10 that it has closed the subscription and openoffer flagged inApril, raising the full amount of £6.9 million, with the open offerelement having been 205% oversubscribed.

Proceeds will be used to provide working capital as thecompany's operations at the Lomada gold mine in Argentina and production at theCap-Oeste goldproject ramps up, and to finance the construction and development of theCap-Oeste.