Silver Elephant Closes 2nd and Final Tranche of Non- Brokered Private Placement Raising Gross Proceeds of $291,550
Silver Elephant Closes 2nd and Final Tranche of Non-
Brokered Private Placement Raising Gross Proceeds of
$291,550
Vancouver, British Columbia – November 4, 2024 — Si lver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQB: SILEF, Frankfurt: 1P2) announces that,
further to its news release dated October 7, 2024, it has closed the second and final tranche of
its non-brokered private placement (the “Private Placement”) raising gross proceeds of $291,550
through the sale of 595,000 units (the “Units”) at a price of $0.49 per unit.
Each unit consists of one common share of the Compa ny (“Share”) and one share purchase
warrant with each warrant (the “Warrant”) entitling the holder to purchase one additional Share at
a price of $0.55 per Share for a period of three years from issuance.
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.
John Lee, CEO and a Director of the Company (the “I nsider”) subscribed for 500,000 Units for
gross proceeds of $245,000. The issuance of Units t o the Insider pursuant to the Private
Placement will be considered a related party transa ction 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 Private Placement by the Insider 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 Private Placement.
No finder’s fees were paid in connection with the 2nd tranche of this Private Placement.
Proceeds of the Private Placement are expected to be used for general corporate purposes.
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 .
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.