Patagonia completes $1.5m sale of PGSA to Metalla

(Sharecast News) - Argentina, Chile and Uruguay-focussed gold and silver company Patagonia Gold announced on Friday that the sale of the COSE Royalty by its wholly-owned subsidiary PGSA to Metalla had now closed.The AIM-traded firm had announced the transaction, for total consideration of $1.5m in cash, on 11 December.It said the transaction was subject to standard closing conditions, all of which had now been satisfied or waived, including the receipt of funds by PGSA."The proceeds will be used for general working capital purposes and reduction of net debt," Patagonia's board said in its statement.