Silver Elephant Announces Non-Brokered Private Placement of $210,000
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Silver Elephant Announces Non-Brokered
Private Placement of $210,000
Vancouver, British Columbia, April 9, 2024 — Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTC:SILEF, Frankfurt:1P2N) is pleased to
announce that it proposes to undertake a non-broker ed private placement (the “Private
Placement”) to raise gross proceeds of $210,000 through the sale of 700,000 units (the “Units”)
at a price of $0.30 per Unit. Each Unit consists of one common share of the Company and one-
half of one share purchase warrant with each whole warrant (the “Warrant”) entitling the holder to
purchase one additional common share of the Company at a price of $0.45 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 Placement are expected to be used f or working capital and general corporate
purposes.
The Private Placement is subject to Toronto Stock Exchange approval.
The directors of the Company will be subscribing fo r, in the aggregate, up to 495,700 Units for
gross proceeds of up to $148,710. The issuance of U nits to insiders pursuant to the Placement
will be considered related party transactions within the meaning of Multilateral Instrument 61-101
– Protection of Minority Security Holders in Specia l Transactions (“MI 61-101”). The Company
relies on exemptions from the formal valuation and minority shareholder approval requirements
provided under sections 5.5(a) and 5.7(a) of MI 61- 101 on the basis that participation in the
Placement by insiders 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 Placement.
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
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For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
[email protected] 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 f uture 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 forwar d-looking statements. Forward-looking
information in this news release include the expected gross proceeds of the Private Placement,
and use of proceeds raised from the Private Placement.
Forward-looking statements are based on reasonable assumptions by management as of the
date of this news release, and there can be no assu rance that actual results will be consistent
with any forward-looking statements included herein . Readers are cautioned that all forward
looking statements in this news release are made as of the date of this news release. The
Company undertakes no obligation to update or revis e any forward-looking statements in this
news release to reflect circumstances or events tha t occur after the date of this news release,
except as required by applicable securities laws.