Silver Elephant Closes First Tranche of Non-Brokered Private Placement for Gross Proceeds of $565,000

Executive Summary

• Silver Elephant Mining Corp. closed the first tranche of its non‑brokered private placement, raising gross proceeds of $565,000 from the sale of 2,260,000 units at $0.25 per unit.
• Each unit includes one common share and one warrant to purchase an additional share at $0.32 for three years; 21,000 finder’s units were also issued on the same terms.
• Insiders purchased 210,000 units (10% insider participation), constituting a related‑party transaction that will be reported via a material change report; the securities are subject to a four‑month plus one day regulatory hold period.

Key Details

• Units sold: 2,260,000 at $0.25 per unit → $565,000 gross proceeds.
• Unit composition: 1 common share + 1 warrant (exercise price $0.32, three‑year term).
• Finder’s Units: 21,000 issued to eligible finders; warrants identical to those in the main units.
• Insider participation: 210,000 units purchased by a 10% insider and an officer (related‑party transaction under MI 61‑101).
• Regulatory hold: Securities subject to a four‑month plus one day hold period from issuance date.
• Use of proceeds: Expected to be applied for general corporate purposes.
• Second tranche: Final tranche anticipated to close around January 27, 2026, pending regulatory approval.
• Reporting: Company will file a material change report concerning the insider‑related party transaction.

Notable Quotes

• “The proceeds from this private placement will support our ongoing corporate initiatives and advance the development of our flagship silver‑lead‑zinc project in Bolivia,” – John Lee, CEO and Executive Chairman.