Silver Elephant Receives Final Court Approval, Sets January 14 as Effective Date for Plan of Arrangement
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Silver Elephant Receives Final Court Approval,
Sets January 14 as Effective Date for Plan of Arrangement
Vancouver, British Columbia, January 12, 2022 – Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces that it
has received final approval of the British Columbia Supreme Court (the “ Court”) for its
previously announced plan of arrangement (the “ Arrangement”). Receipt of Court approval
follows the near-unanimous approval of the Arrangement by the Company’s shareholders at the
special meeting held on December 22, 2021 (the “ Meeting”). The effective date of the
Arrangement is January 14, 2022 (the “Effective Date”).
Pursuant to the Arrangement , the common shares of the Company will be consoli dated on a
10:1 basis (the “ Consolidation”) and each holder of common shares of the Company will
receive in exchange for every 10 pre-Consolidation common share s held: (i) one post -
Consolidation common share of the Company; (ii) one common share of Flying Nickel Mining
Corp. (“Flying Nickel ”); (iii) one common share of Nevada Vanadium Mining Corp. (“Nevada
Vanadium”); and (iv) two common shares of Battery Metals Royalties Corp. (“Battery Metals”).
Post-Arrangement, each company will commence its correspond ing core business with the
following:
1. Silver Elephant, holding a 100% interest in the Pulacayo silver and El Triunfo gold -silver
projects in Bolivia, and minority equity interest in Battery Metals as a long -term
investment;
2. Nevada Vanadium, a new Canadia n reporting issuer , holding a 100% interest in the
Gibellini vanadium project in Nevada;
3. Flying Nickel, a new Canadian reporting issuer , holding a 100% interest in the Minago
nickel project in the Thompson nickel belt in Manitoba; and
4. Battery Metals, a new Canadian reporting issuer , holding a 2% royalt y in each of the
assets referenced above , and minority equity interests in Flying Nickel and Nevada
Vanadium as long-term investments.
In order to receive post -Consolidation common shares of the Company and c ommon shares of
each of Flying Nickel, Nevada Vanadium and Battery Royalties, registered shareholders should
complete the letter of transmittal (which can be completed post-Effective Date) prepared in
connection with the Arrangement, copies of which are av ailable at www.sedar.com,
www.silverelef.com or by contacting the Company. Beneficial shareholders do n ot need to
complete a letter of transmittal and should contact their broker or intermediary with any
questions.
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At present, it is expected that the Toro nto Stock Exchange (“TSX”) will issue its final trading
bulletin in respect of the Arrangement as soon as possible on or after the Effective Date .
Trading in the Company’s common shares will commence on a pos t-Arrangement and post -
Consolidation basis at th e opening of the market on the date that is two trading days after
issuance of the TSX bulletin. At present, this is expected to occ ur on Tuesday, January 18,
2022, or such later date as may be determined by the TSX. The Company will issue a further
press release to confirm this date.
For more inform ation regarding the Arrangement, readers should refer to the Company’s
management information circular prepared in connection with the Meeting, a copy of which is
available at www.sedar.com and silverelef.com. Further information on Silver Elephant , Flying
Nickel, Nevada Vanadium, and Battery Metals can be found at www.silverelef.com,
flynickel.com, nevadavanadium.com, and royalbatt.com, respectively.
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 the policies of the Toronto Stock E xchange) 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 whi ch m ay contain
words such a s “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar
expressions, and statements related to matters which are not historical facts, are forward -
looking in formation within the meaning o f applicable s ecurities laws. Such forwar d-looking
statements, which reflect management’s expectations regarding Silver Elephant’s future growth,
results of operations, performance, business prospects and opportunities, are ba sed on certain
factors and ass umptions and i nvolve known and unknown ri sks 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 thi s 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 c ause actual ac tions, 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 publicly any future revisions to forward -looking statements
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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 securiti es to be issue d pursuant to the Flying Ni ckel 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 is suable 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 relea se does not constitute an offer to sell or t he solicitation of an offer to buy
any securities.