Silver Elephant Closes Final Tranche of Oversubscribed Private Placement for Gross Proceeds of $1,796,000
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Silver Elephant Closes Final Tranche of Oversubscribed
Private Placement for Gross Proceeds of $1,796,000
Vancouver, British Columbia, November 15, 2021 – Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces it
has closed the third and final tranche (the “ Closing”) of its private placement offering
announced on September 6, 2021 which was upsized as described in a news release on
October 22, 2021.
Pursuant to the Closing, the Company issued 8,163,640 Shar es for gross proceeds of
$1,796,000. In total, the Company raised $3,740,000 through the aggregate sale of 17,000,000
common shares of the Company (“Shares”) at $0.22 per Share.
No fees were paid in connection with this third tranche closing.
The Shares issued in connection with the Closing are subject to a regulatory hold period
expiring on March 13, 2022.
The Closing proceeds are expected to be used for the Company’s mineral project development
and for general working capital purposes.
About Silver Elephant
Silver Elephant Mining Corp. is a premier mining and exploration company in silver, nickel, and
vanadium.
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
[email protected] www.silverelef.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is
defined in t he policies of the Toronto Stock Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
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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 Silver Elephant’s future growth,
results of operations, performance, business prospects and opportunities, are based on certain
factors and assumptions and involve known an d unknown 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 considered carefully, and readers should not place undue reliance on
the Silver Elephant’s forward-looking statements. Silver Elephant believes that the expectations
reflected in the forward -looking statements contained in this news release and the docum ents
incorporated by reference herein are reasonable, 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 obligation to release publ icly 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.
None of the securities to be issued pursuant t o the Offering have been or will be registered
under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act”), or any
state securities laws, and any securities issuable in the transaction are anticipated to be issued
in reliance upo n available exemptions from such registration requirements pursuant to Section
3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This
press release does not constitute an offer to sell or the solicitation of an offe r to buy any
securities.