In This Article:
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that, further to its news release dated January 16, 2025, it has increased the size of the private placement (the "Private Placement") to 2,800,000 units (the "Units") for aggregate gross proceeds of $420,000 at a price of $0.15 per Unit. Each unit consists of one common share of the Company ("Share") and one share purchase warrant with each warrant (the "Warrant") entitling the holder to purchase one additional Share at a price of $0.30 per Share for a period of three years from issuance.
The Company further announces that it has closed the first tranche of the Private Placement raising gross proceeds of $330,000 through the sale of 2,200,000 Units.
The securities issued as part of the Private Placement will be subject to a regulatory hold period of four months plus one day from the date of issue.
Proceeds of the Private Placement are expected to be used for general corporate purposes.
The Company paid a finder's fee to Canaccord Genuity Corp. in connection with the first tranche of the Private Placement by way of issuance of 119,000 Units.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company with the Paca silver project and Triunfo gold project in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
"John Lee"
CEO and Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com
www.silverelef.com
FORWARD-LOOKING INFORMATION
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking information in this news release includes the expected gross proceeds of the Private Placement, use of proceeds raised from the Private Placement.