Patagonia Gold, the South American precious metal exploration and development company, has announced today that it will place 41 million shares at at 4.5 pence per share for working capital and exploration expenditure.
Encouragingly, three Directors have subscribed for placing shares;
Carlos Miguens, Patagonia Gold’s Non-Executive Deputy Chairman has subscribed for 15,489,800 placing shares increasing his shareholding to 92,515,376, and now holds 19.54 percent of the issued share capital.
William Humphries, Patagonia Gold’s Managing Director subscribed for an additional 1,166,668 placing shares increasing his shareholding to 11,880,52. Mr Humphries now holds 2.51 percent of the issued share capital.
Gonzalo Tanoira, Patagonia Gold’s Finance Director subscribed for 233,700 placing shares which has increased his shareholding to 6,672,147 which equates to 1.41 percent of the issued share capital.
The Argentinean Directors and their family associates now hold a total of 52.30 percent of the total capital shareholding of Patagonia Gold.