Silver Elephant Announces $490,000 Non-Brokered Private Placement and Appoints Chief Legal Officer
Silver Elephant Announces $490,000 Non-Brokered Private
Placement and Appoints Chief Legal Officer
Vancouver, British Columbia – October 7, 2024 — Sil ver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQB: SILEF, Frankfurt: 1P2) announces that it
proposes to undertake a non-brokered private placement (the “Private Placement”) to raise gross
proceeds of $490,000 through the sale of 1,000,000 units (the “Units”) at a price of $0.49 per unit.
Each unit consists of one common share of the Compa ny (“Share”) and one share purchase
warrant with each warrant (the “Warrant”) entitling the holder to purchase one additional Share at
a price of $0.55 per Share for a period of three years from issuance (the “Private Placement”).
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.
John Lee, CEO and a Director of the Company, will b e subscribing for 500,000 Units for gross
proceeds of $245,000. The issuance of Units to John Lee pursuant to the Private Placement will
be considered a related party transaction within th e meaning of Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relies
on exemptions from the formal valuation and minorit y shareholder approval requirements
provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Private
Placement by John Lee will not exceed 25% of the fa ir market value of the Company’s market
capitalization. The Company will file a material ch ange report in respect of the related party
transactions in connection with the Private Placement.
The Private Placement is subject to approval by the Toronto Stock Exchange (“TSX”).
The Company is also pleased to announce the appoint ment of Alex Bayer as its Chief Legal
Officer, to lead all legal matters for the Company, effective as of October 2, 2024.
Alex is a seasoned corporate securities lawyer with over 15 years of experience, specializing in
the mining sector. He has extensive expertise in advising mining companies on a wide range of
matters, including public and private financings, mergers and acquisitions, regulatory compliance,
and corporate governance. Known for a deep understa nding of securities laws and the unique
challenges of the mining industry, Alex has success fully guided companies through complex
transactions and strategic initiatives, including b ringing mines into commercial production, while
ensuring legal and regulatory requirements are met.
Mr. Bayer’s engagement as Chief Legal Officer is th rough his consulting company, Bayer Law
Corporation.
The Company also appoints Sara Knappe as Corporate Secretary to replace Ms. Marion
McGrath. The Company would like to thank Ms. McGrath for her valuable contributions during her
tenure with the Company.
About Silver Elephant Mining Corp.
Silver Elephant is a silver mining company, with it s flagship Pulacayo-Paca silver project in
production since October 2023 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”
Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
www.silverelef.com
Neither the TSX nor its Regulation Services Provide r (as that term is defined in policies of the
TSX) accepts responsibility for the adequacy or accuracy of this release.