Silver Elephant Closes 1 st Tranche of Private Placement Raising Gross Proceeds of $1,111,584
Silver Elephant Closes 1 st Tranche of Private Placement
Raising Gross Proceeds of $1,111,584
Vancouver, British Columbia – July 25, 2024 — Silve r Elephant Mining Corp. (“ Silver
Elephant ” or the “Company ”) (TSX: ELEF, OTC: SILEF, Frankfurt: 1P2) announces that, further
to its news release dated July 11, 2024, it has closed the first tranche of its non-brokered private
placement offering (the “ Private Placement ”) raising gross proceeds of $1,111,584 through the
issuance of 2,315,800 units (the “ Units ”) at a price of $0.48 per Unit.
Each Unit consists of one common share of the Company and one share purchase warrant with
each warrant (the “ Warrant ”) entitling the holder to purchase one additional common share of
the Company at a price of $0.70 per share for a period of three years from issuance.
In connection with a portion of the closing of the first tranche, 159,978 Units were issued as a
finder’s fee to Canaccord Genuity Corp. (as to 131, 978 Units) and Glores Securities Inc. (as to
28,000 Units).
Proceeds of the Private Placement are expected to b e used to commission phase one sulphide
operations at the Company’s Paca silver project in Potosi department in Bolivia (refer to the
Company’s news release dated July 8, 2024), and for general corporate purposes.
The securities issued in connection with the Privat e Placement is subject to a regulatory hold
period and cannot be traded until November 24, 2024.
Subsequent to the Company’s announcement on July 11 , 2024, the Company increased its
proposed Private Placement from 2,000,000 Units to 3,000,000 Units.
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 (t he “U.S. Securities Act”) or any state
securities laws and may not be offered or sold with in the United States unless registered under
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 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.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking informa tion” and “forward-looking statements”
(collectively, “forward looking information”) withi n 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. Such forward-looking information, which
reflects management’s expectations regarding Silver Elephant’s future growth, results of
operations, performance, business prospects and opp ortunities, is based on certain factors and
assumptions and involves known and unknown risks an d 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 information.
Forward-looking information involves significant risks and uncertainties, should not be read as a
guarantee 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 information,
including but not limited to: changes in operating plans; ability to secure sufficient financing to
advance the Company’s project; conditions impacting the Company’s ability to mine at the project,
such as unfavourable weather conditions, developmen t of a mine plan, maintaining existing
permits and receiving any new permits required for the project, and other conditions impacting
mining generally; maintaining cordial business rela tions with strategic partners and contractual
counter-parties; meeting regulatory requirements an d changes thereto; risks inherent to mineral
resource estimation, including uncertainty as to wh ether mineral resources will be further
developed into mineral reserves; political risk in the jurisdictions where the Company’s projects
are located; commodity price variation; and general market, industry and economic conditions.
Additional risk factors are set out in the Company’ s latest annual and interim management’s
discussion and analysis and annual information form (AIF), available on SEDAR+ at
www.sedarplus.ca .
Forward-looking information is 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 information included herein. Reader s 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 revise any forward-looking information in this news release
to reflect circumstances or events that occur after the date of this news release, except as required
by applicable securities laws.