Silver Elephant Announces Private Placement Offering of Up To 1,500,000 Units for Gross Proceeds of Up To $675,000
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Silver Elephant Announces Private Placement
Offering of Up To 1,500,000 Units for
Gross Proceeds of Up To $675,000
Vancouver, British Columbia, March 13 , 202 3 – Silver Elephant Mining Corp. (“Silver
Elephant” or “the Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt:1P2N) announces that
it proposes to undertake a non-brokered private placement (the “Placement”) of up to 1.5 million
Units of the Company (the “Units”) at a price of $0.45 per Unit to raise aggregate gross proceeds
of up to $675,000. Each Uni t will consist of one common share of the Company and one share
purchase warrant with each warrant entitling the holder to purchase one additional share of the
Company at a price of $0.55 per share for 3 years.
The securities issued as part of the Placement will be subject to a hold period of four months plus
one day from the date of issue.
Closing of the Placement is expected to occur on or about April 5, 2023.
John Lee, Executive Chairman will be subscribing for up to 310,000 Units for gross proceeds o f
up to $139,500. The issuance of Units 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 Special 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 fair market value of the Company’s market capitalization. The
Company will file a material change report in respect of the related party transactions in
connection with the Placement. The Placement is subject to approval by the Toronto Stock
Exchange (“TSX”).
A Finder’s Fees of 7% Finder’s Units will be payable in connection with the Placement in
accordance with the policies of the TSX. Each Finder’s Unit will consist of one common share of
the Company and one non -transferable share purchase warrant with each warrant entitling the
holder to purchase one additional share of the Company at a price of $0.55 per share for 3 years.
Proceeds of the Placement are expected to be used for exploration, working capital and general
corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the “ U.S. Securities Ac t”) or any state
securities laws and may not be offered or sold within the United States unless registered under
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the U.S. Securities Act and applicable state securities laws or an exemption from such registration
is available.
About Silver Elephant Mining Corp.
Silver Elephant Mining Corp. is a premier silver mining and exploration company, with its flagship
Pulacayo silver project in Bolivia . It also owns 100% of Mega Thermal Coal Corp and 39% of
Oracle Commodity Holding Corp. (“Oracle”). Oracle has equity and royalty investments in nickel
and vanadium mining companies.
Further information on Silver Elephant can be found at www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
John Lee
CEO
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
[email protected] / www.silverelef.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements and Reader Advisory
Certain statements contained in this or other news release, including, but not limited to, statements with
respect to the debt settlements, the terms of the debt settlements, and the completion of the debt
settlements, among other things, and statements which may contain words such as “expects”, “anticipates”,
“intends”, “plans”, “believes”, “estimates” , “targets” , 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
either of Silver Elephant’s future growth, results of operations, performance, business prospects and
opportunities, are based on certain factors and assumptions and involve known and unknow n 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.
These factors should be consid ered carefully, and readers should not place undue reliance on Silver
Elephant’s forward -looking statements. Silver Elephant believe that the expectations reflected in the
forward-looking statements contained in this news release and the documents incorpor ated by reference
herein are reasonable based on information available to it, but no assurance can be given that these
expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify
important factors that could cause actual actions, events or results to differ materially from those described
in forward looking statements, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Silver Elephant undertakes no obli gation to release publicly any future
revisions to forward-looking statements to reflect events or circumstances after the date of this news or to
reflect the occurrence of unanticipated events, except as expressly required by law.