04:40 PM EDT, 04/07/2025 (MT Newswires) -- Nevada King Gold ( NKGFF ) after close of trade Monday said it is raising $11 million in a fully allocated private placement of shares.

The company said it is placing 44-million priced at $0.25 each in the financing, which is expected to close on or about April 22.

Chief Excecutive Collin Kettell intends to subscribe for 22 million shares, financing a significant portion of his subscription with an arranged sale of 20-million shares from his personal holdings to prominent U.S. based gold and precious metals fund (the Gold Fund). The remainder of the placement is allocated to insiders and existing investors/

Proceeds of the offering are intended to be used to advance Nevada King's Atlanta Gold Mine Project and for other general working capital purposes.

The company's shares closed unchanged at $0.26 on the TSX Venture Exchange.