Silver Elephant Announces Non-Brokered Private Placement Total $960,000
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Silver Elephant Announces Non-Brokered Private
Placement Total $960,000
Vancouver, British Columbia, July 11 , 2024 — Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company” ) (TSX: ELEF, OTC:SILEF , Frankfurt:1P2 ) announces that it
proposes to undertake a non -brokered private placement (the “Private Placement”) to raise
gross proceeds of $960,000 through the sale of 2,000,000 units (the “Units”) at a price of $0. 48
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. 70 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 to commission Paca phase one
sulphide operation (refer to Company’ s news release dated July 8), and for general corporate
purposes.
Directors of the Company, will be subscribing for , in the aggregate, up to 400,000 Units for
gross proceeds of up to $ 192,000. The issuance of Units to insiders pursuant to the Private
Placement will be considered related party transactions within the 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 min ority 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 insiders will not exceed 25% of the fair market value of
the Company’s market capitalization. The Com pany will file a material change 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”).
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”
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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
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, busi ness 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, performanc e, or achievements expressed or implied by such forward -looking
statements. Forward-looking information in this news release include the expected gross
proceeds of the Private Placement, use of proceeds raised from the Private Placement , and the
participation and by certain insiders who are directors of the Company in the Private Placement
and the amount of such participation.
Forward-looking statements involve significant risks and uncertainties, and should not be read
as guarantees of future performance, events or results, and may not be indicative of whether
such events or results will actually be achieved. A number of risks and other factors could cause
actual results to differ materially from expected results discussed in the forward -looking
statements, including but not limited to: market conditions; ability to complete the financing;
changes in business plans; ability to secure sufficient financing to advance the Company’s
mining projects; and general economic conditions. Additional risk factors about the Company are
set out in its latest annual and interim management’s discussion and analysis and annual
information form available under the Company’s profile on SEDAR at www.sedarplus.ca.
Forward-looking statements are based on reasonable assumptions by management as of the
date of this news release, and there can be no assurance that actual results will be consistent
with any forward -looking statements included herein. Readers are cautioned that all forwa rd
looking statements in this news release are made as of the date of this news release. The
Company undertakes no obligation to update or revise any forward -looking statements in this
news release to reflect circumstances or events that occur after the da te of this news release,
except as required by applicable securities laws.