Silver Elephant increases private placement to $735,200

Executive Summary

• Silver Elephant Mining Corp. increased its previously announced non‑brokered private placement to raise $735,200 by issuing 4,595,000 units at $0.16 per unit.
• Insiders will subscribe for 1,000,000 units (~$160,000), constituting a related‑party transaction that will be reported under MI 61‑101.
• Proceeds are earmarked for general corporate purposes; the placement remains subject to TSX approval and a four‑month regulatory hold period.

Key Details

• Total gross proceeds: $735,200 (up from original amount).
• Units offered: 4,595,000 units at $0.16 each.
• Unit composition: 1 common share + 1 share purchase warrant (exercise price $0.20 per share, exercisable for three years from issuance).
• Finder’s fee: Up to 7 % payable in finder’s units; each finder’s unit = 1 common share + 1 non‑transferable warrant (same exercise terms).
• Insider subscription: 1,000,000 units → up to $160,000 gross proceeds.
• Related‑party transaction: Insiders’ participation < 25 % of fair market value; exemption from formal valuation and minority approval under MI 61‑101 sections 5.5(a) & 5.7(a).
• Regulatory hold: Units subject to a four‑month plus one day hold period from issuance date.
• Use of proceeds: General corporate purposes.
• Approval required: Toronto Stock Exchange (TSX) consent pending.

Notable Quotes

(No CEO/President quotes provided in the release.)