Silver Elephant Closes Second Tranche of Private Placement for Gross Proceeds of $1,025,800
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Silver Elephant Closes Second Tranche of Private
Placement for Gross Proceeds of $1,025,800
Vancouver, British Columbia, October 22, 2021 – Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces that,
further to its news release dated September 6, 2021, it has closed the second tranche (the
“Closing”) of its previously announced private placement offering of 15,000,000 common
shares of the Company (“ Shares”) at a price per Share of $0.22 for a ggregate gross proceeds
of $3,300,000 (the “Offering”). Pursuant to the Closing, the Company issued an aggregate of
4,662,727 Shares for aggregate gross proceeds from the Closing of $1,025,800.
Subsequent to its news release dated September 6, 2021, the Company filed for, and received
conditional approval to, increase the fully subscribed Offering from 15,000,000 common shares
to 17,000,000 common shares for gross proceeds of $3,740,000.
In connection with the Closing, the Company paid $31,020 in cash and issued 141,000 common
share purchase warrants (“Finder’s Warrants”) to certain finders as finder’s fees. Each
Finder’s Warrant is exercisable to acquire one common share of the Company at a price of
$0.26 until October 21, 2022.
The securities issued in connection with the Closing are subject to a regulatory hold period
expiring on February 22, 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
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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
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 and unk nown 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 cons idered 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 documents
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 r esults 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 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.
None of the securities to be issued pursuant to 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 upon 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 offer to buy any
securities.