Silver Elephant Announces Acquisition of Units of Oracle Commodity Holding Corp. EARLY WARNING NEWS RELEASE ISSUED PURSUANT TO NI 62-103
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Silver Elephant Announces Acquisition of Units of
Oracle Commodity Holding Corp.
EARLY WARNING NEWS RELEASE ISSUED PURSUANT TO NI 62-103
Vancouver, British Columbia, March 28, 2024 — Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTC:SILEF, Frankfurt:1P2) is pleased to announce
that it has acquired 3,500,000 units (the “Units”, and each a “Unit”) of Oracle Commodity Holding
Corp. (“Oracle”) by way of private placement (the “Acquisition”).
On March 28, 2024, Silver Elephant acquired the Units at a price of $0.05 each for a total purchase
price of $175,000. Each Unit consists of one common share of Oracle (“Oracle Share”) and one
share purchase warrant (“Oracle Warrant”). Each Oracle Warrant is exercisable to purchase one
additional Oracle Share at a price of $0.06 each for a period of three years from the closing date
of the Acquisition. This Acquisition represents an increase of 3.56% in Silver Elephant’s
ownership interest in the issued and outstanding Or acle Shares. Prior to the Acquisition, Silver
Elephant held a total of 31,730,110 Oracle Shares, representing 38.55% of the issued and
outstanding Oracle Shares. Subsequent to the Acqui sition, Silver Elephant beneficially owns,
directly or indirectly, a total of 35,230,110 Oracle Shares, representing 35.82% of the issued and
outstanding Oracle Shares, and 3,500,000 Oracle Warrants. Such ownership represents 38.03%
of the issued and outstanding Oracle securities on a partially diluted basis, assuming Silver
Elephant were to exercise its warrants.
Silver Elephant acquired the Units for investment p urposes. As a company whose shares are
listed for trading on the Toronto Stock Exchange (“ TSX”), Silver Elephant sought and received
TSX approval for the Acquisition. Silver Elephant may, subject to further TSX approval, acquire
additional securities through the open market or by way of private placement or sell securities
through the open market or by private sales in the future based on market conditions,
reformulation of business plans or other relevant conditions.
Oracle has received conditional approval from the TSX Venture Exchange to list common shares
of Oracle as a Tier 2 Investment Issuer. The commo n shares of Oracle, when listed, will trade
under the symbol “ ORCL ”.
A copy of the early warning report dated March 28, 2024, to be filed by Silver Elephant in
connection with the acquisition of the Shares of Or acle will be available on SEDAR+ at
www.sedarplus.ca . Copies of such reports will also be available from Silver Elephant upon written
request sent to Sara Knappe at [email protected]
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About Silver Elephant Mining Corp.
Silver Elephant is a silver mining and exploration company, with its flagship Pulacayo silver 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”
Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
[email protected] www.silverelef .com
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking informa tion” and “forward-looking statements”
(collectively, “ forward-looking information ”) within the meaning of applicable securities laws .
Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,”
“will,” “anticipates,” “intends,” “could”, “estimat es”, “expects”, “forecasts”, “projects” and similar
expressions, and the negative of such expressions. Forward-looking information in this news
release includes statements about the potential for future acquisitions or dispositions of securities
of Oracle, and expected ownership interest upon the exercise of Oracle Warrants.
Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the Company’s actual results , level of activity, performance or
achievements to be materially different from those expressed or implied by such forward-looking
information. Accordingly, readers should not place undue reliance on such forward-looking
information. Forward-looking information is based o n the reasonable assumptions, estimates,
analysis and opinions of management made in light o f its experience and perception of trends,
current conditions and expected developments, and other factors that management believes are
relevant and reasonable in the circumstances at the date such statements are made. Such
assumptions include, among others: changes to the Company’s current and future business and
investment plans, stock market conditions generally , results of Oracle’s business activities, the
ability of the Company to fund the advancement of i ts projects, and general and economic
conditions in jurisdictions where the Company conducts its business. See the Company’s latest
interim and annual management’s discussion and anal ysis and annual information form for
additional risk factors, assumptions and other factors on which such forward-looking information
is based in context of the Company’s business and p roperties, which are available under the
Company’s profile on SEDAR+ at www.sedarplus.ca .
Although the Company has attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated. All forward-looking information is made as of the date
of this news release, and the Company expressly disclaims any obligation to revise or update any
such forward-looking information or to publicly announce the result of any revisions to any of the
forward-looking information contained herein to ref lect future results, events or developments,
except as required by law.