11:07 AM EST, 11/13/2024 (MT Newswires) -- Nevada King Gold ( NKGFF ) on Wednesday said it closed the brokered portion of its private placement financing, raising $6.1 million, with a second closing of a non-brokered tranche expected later in the day.

The company said it issued 17.99-million shares at $0.34 each in the brokered tranche. Proceeds will be used to advance the Atlanta Gold Mine Project.

The non-brokered portion of the financing, which has been fully allocated, will be closed later today.

Total gross proceeds from the offerings are expected to be $11.7 million.

Nevada King shares were last seen up $0.005 to $0.305 on the TSX Venture Exchange.

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