Silver Elephant Closes $1,330,940 First Tranche of Private Placement
Silver Elephant Closes $1,330,940 First Tranche of Private Placement
Vancouver, British Columbia, May 1, 2020 – Silver Elephant Mining Corp . (“Silver Elephant” or the “Company”)
(TSX: ELEF, OTCQX:SILEF , Frankfurt:1P2N) announces that it has closed the first tranche of the non-brokered private
placement (the “Placement”) announced on April 15, 2020. The first tranche of the Placement raised gross cash proceeds
of $1,330,940 through the issuance of 10,238,000 units (the “Units”) of Silver Elephant at a price of $0.13 per Unit. Each
Unit is comprised of one Common share and one Common share purchase warrant (the “Warrants”). Each Warrant
entitles the holder to purchase one additional Common share of the Company at an exercise price of $0.16 for a period of
three years from the closing of the first tranche of Placement.
The Company paid $3,250 in cash and issued 156,900 Units as finder’s fees.
The Company expects to close the second and final tranche of the fully subscribed Placement shortly in May 2020.
All Common shares attached to the Units issued in connection with the Placement are subject to a four month and one day
hold period.
The Placement proceeds are expected to be used for the Company’s mineral project development and for general working
capital purposes.
About Silver Elephant
Silver Elephant is developing its premier 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
“Michael Doolin”
Chief Executive Officer
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
[email protected] www.silverelef.com
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