Financings Material +

NEVADA KING CLOSES $16.3 MILLION FINANCING INCLUDING A $10.4M STRATEGIC INVESTMENT BY CENTERRA GOLD INC.

Centerra Gold Backs Nevada King With $10M Stake as Atlanta Resource Grows

By The Northwire Desk — AI Analysis Apr 10, 2026 · 07:49 NKG · 0.205 Nevada King Gold Corp.

Executive Summary

Nevada King Gold Corp. closed a C$16.3 million non-brokered private placement on April 10, 2026.
Shares were issued at C$0.21 per share, totaling 77,739,774 common shares.
Centerra Gold Inc. invested approximately C$10.4 million, acquiring 49,681,622 shares (9.9% of post-financing equity).
Insiders Collin Kettell (Chairman) and Michael Parker (largest shareholder) contributed ~C$5.9 million combined to maintain pro-rata ownership.
Proceeds are designated for regional and reconnaissance exploration on the Atlanta Gold Mine Project (Silver Park, Atlanta South, Atlanta North, Western Rim) and working capital.
Centerra received investor rights including financing participation and information rights subject to maintaining ≥5% ownership.
Shares are subject to a four-month + one-day hold period in Canada expiring August 11, 2026.
The company noted potential for share consolidation on a 5-for-1 basis, though no assurance is given.

Material Impact

Strategic Validation: A C$10.4 million investment from Centerra Gold (a TSX-listed producer) represents significant technical due diligence and endorsement of the Atlanta project's quality. This reduces execution risk compared to a standard junior financing.
Liquidity Injection: The closing adds substantial cash reserves, moving the company from a C$6.2M position (Dec 2025) to approximately C$22.5M post-closing, securing operations through Phase 4 and beyond.
Insider Confidence: Significant insider participation (~C$5.9M) aligns management interests with shareholders, countering dilution concerns from the placement.
Dilution Impact: Post-financing share count is ~501.8 million. While dilutive, the capital raised covers a multi-year exploration program without immediate need for further equity raises.
Market Perception: The deal moves the company from Tier 2 to Tier 1 status on TSX Venture Exchange (achieved Oct 2025) and solidifies its position as a mid-tier explorer with producer backing.

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Company Overview

Company: Nevada King Gold Corp., a TSX Venture Exchange listed issuer (Tier 1).
Flagship Project: Atlanta Gold Mine Project in Lincoln County, Nevada, USA.
Asset Status: Past-producing mine with 100% ownership.
Resource Base: NI 43-101 compliant resource of 1.02 Moz Au (Measured & Indicated) at 1.14 g/t Au as of June 2025.
Exploration Focus: Phase 4 program targets satellite oxide deposits (Silver Park East, Atlanta South/North, Western Rim).
Processing: Metallurgical testing supports heap leach for non-silicified volcanics and milling for silicified material.
Management: Led by CEO John Sclodnick and Chairman Collin Kettell; new VP Exploration Justin Daley appointed in late 2025.

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