Nevada King Gold Corp announced a non-brokered private placement of 27,857,143 common shares of the company at a price of CAD 0.35 per common share for aggregate gross proceeds of CAD 9,750,000.05 on February 12, 2024. Company founder and chief executive officer Collin Kettell is subscribing for CAD 2,000,000 of the transaction, while other members of management and the board of directors are also participating. Two significant shareholders of the company are subscribing for CAD 4,200,000 and CAD 1,345,000 of the transaction respectively.

The transaction is subject to approvals of the British Columbia Supreme Court and the TSX Venture Exchange. The company expects that the closings of the non-brokered private placement will occur within 21 days of this announcement and that it will not file a material change report in respect of the related party transaction at least 21 days before the closings.