Silver Elephant Closes Second and Final Tranche of Non-Brokered Private Placement Raising Gross Proceeds of $445,411

Executive Summary

• Silver Elephant Mining Corp. closed the second and final tranche of its non‑brokered private placement, raising $445,411 in gross proceeds.
• The offering consisted of 2,783,824 units sold at $0.16 per unit, each unit containing one common share and one warrant (exercise price $0.20, three‑year term).
• Proceeds are earmarked for general corporate purposes; related‑party participation by Director John Lee was disclosed and will be reported as a material change.

Key Details

• Units sold: 2,783,824 at $0.16 each → $445,411 gross proceeds.
• Unit composition: 1 common share + 1 warrant (exercise price $0.20 per share, exercisable for three years).
• Finder’s fees: 145,250 Finder’s Units issued (each also a share + warrant) as compensation to placement agents.
• Related‑party transaction: Director John Lee subscribed for 193,750 units ($31,000); transaction qualifies for MI 61‑101 exemptions and will be filed as a material change report.
• Regulatory hold: All securities subject to a four‑month plus one day hold period from issuance date.
• Use of proceeds: Intended for general corporate purposes (e.g., working capital, project development).

Notable Quotes

• “The successful completion of this private placement provides us with the necessary capital to advance our exploration initiatives and strengthen our balance sheet,” – John Lee, CEO and Executive Chairman.