Nevada KING Announces Closing of Brokered Portion of Private Placement FOR Gross Proceeds of $6.1 Million
ŧb x s. x
NEVADA KING ANNOUNCES CLOSING OF BROKERED PORTION OF PRIVATE
PLACEMENT FOR GROSS PROCEEDS OF $6.1 MILLION
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC November 13, 2024 – Nevada King Gold Corp. (TSX-V: NKG) (“ Nevada
King” or the “ Company”) is pleased to annou nce the closing of the brokered portion of its
previously announced private placement fi nancing, pursuant to which it issued 17,989,000
common shares of the Company (the “Common Shares”) at a price of $0.34 per Common Share
for gross proceeds of $6,116,260 (the “ Brokered Offering”). The Brokered Offering was
completed on a brokered private placement basis through a syndicate of agents led by Desjardins
Capital Markets, as lead agent and sole bookrunner, and including Red Cloud Securities Inc.,
Canaccord Genuity Corp., and Roth Canada, Inc. (collectively, the “Agents”).
The Company expects that it will complete the fully allocated non-brokered portion of its offering
(the “Non-Brokered Offering”) later today for additional gross proceeds of $5,617,770. The total
gross proceeds from the Brokered Offering and Non-Brokered Offe ring, after completion of the
Non-Brokered Offering, are expected to be $11,734,030.
The 17,989,000 Common Shares issued under the Broke red Offering were offered for sale on a
commercially reasonable “best efforts” fully-marketed basis by way of the Listed Issuer Financing
Exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions to purchasers
in all the provinces and territories of Canada, except Québec, and in other qualifying jurisdictions.
Common Shares issued in connection with the Brokered Offering are not subject to resale
restrictions pursuant to applicab le Canadian securities laws or the policies of the TSX Venture
Exchange (“TSX-V”).
In connection with the Brokered Offering, the Agents received a cash commission of $254,813.
The Agents will not receive a fee on the Non-Brokered Private Placement.
Proceeds of the Brokered Offering will be used to advance the Company’s Atlanta Gold Mine
Project and for working capital purposes of Nevada King. The Brokered Offering and Non-
Brokered Offering are subject to final acceptance of the TSX-V.
The securities issued have not been registered under the U.S. Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an applicable exemption
from the registration requirements. This release does not constitute an offer to sell or a solicitation
of an offer to buy of any securities in the United States. The securities described herein have not
been, and will not be, registered under the United States Securities Act of 1933, as amended (the
“U.S. Securities Act ”), or any state securities laws, and may not be offered or sold within the
United States except in compliance with the regist ration requirements of the U.S. Securities Act
and applicable state securities laws or pursuant to available exemptions therefrom.
Nevada King Gold Corp. - 2 - TSX-V: NKG
OTC: NKGFF
About Nevada King Gold Corp.
The Atlanta Mine is a historical gold-silver producer with a NI 43-101 compliant pit-constrained
resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus
an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t) . See the NI 43-101 Technical
Report on Resources titled “Atlanta Property, Linc oln County, NV” with an effective date of
October 6, 2020, and a report date of December 22, 2020, as prepared by Gustavson Associates
and filed under the Company’s profile on SEDAR+ (www.sedarplus.ca).
Resource Category Tonnes
(000s)
Au Grade
(ppm)
Contained Au
Oz
Ag Grade
(ppm)
Contained Ag
Oz
Measured 4,130 1.51 200,000 14.0 1,860,000
Indicated 6,910 1.17 260,000 10.6 2,360,000
Measured + Indicated 11,000 1.30 460,000 11.9 4,220,000
Inferred 5,310 0.83 142,000 7.3 1,240,000
Table 1. NI 43-101 Mineral Resources at the Atlanta Mine
The scientific and technical information in this news release has been reviewed and approved by
Calvin R. Herron, P.Geo., Qualified Person as defined by NI 43-101. Mr. Herron is not
independent of the Company under NI 43-101, as he is Exploration Manager of the Company.
Please see the Company’s website at www.nevadaking.ca.
For further information, contact Collin Kettell at [email protected] or (845) 535-1486.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains certain “forwa rd-looking information” and “forward-looking
statements” (collectively, “forward-looking statements”) within the meaning of applicable
securities legislation. All statements, other than statements of historical fact included herein,
including without limitation, statem ents relating the future operati ons and activities of Nevada
King, are forward-looking statements. Forward-looking statements are frequently, but not always,
identified by words such as “expects”, “antic ipates”, “believes”, “intends”, “estimates”,
“potential”, “possible”, and similar expressions, or statements that events, conditions, or results
“will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this
news release relate to, among othe r things, statements in respect of the expected closing of the
Non-Brokered Offering, the use of proceeds of the Brokered Offering, the final approval of the
Brokered Offering and the Non-Brokered Offering by the TSX-V, the Company’s Phase III drill
program, and the expected timing of completion th ereof. There can be no assurance that such
statements will prove to be accurate, and actual re sults and future events could differ materially
from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions
and projections on the date the statements are made and are based upon a number of assumptions
and estimates that, while considered reasonable by Nevada King, are inherently subject to
significant business, economic, competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results, performance or achievements
Nevada King Gold Corp. - 3 - TSX-V: NKG
OTC: NKGFF
to be materially different from the results, pe rformance or achievements that are or may be
expressed or implied by such forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such factors include, without limitation,
the ability to complete proposed exploration work, the results of exploration, continued
availability of capital, and changes in general economic, market and business conditions. Readers
should not place undue reliance on the forward-look ing statements and information contained in
this news release concerning these items. Nevada King does not assume any obligation to update
the forward-looking statements of beliefs, opinions, pr ojections, or other factors, should they
change, except as required by applicable securities laws.