Silver Elephant arranges $672,000 private placement

Executive Summary

• Silver Elephant Mining Corp. announced a non‑brokered private placement to raise $672,000 by selling 4.2 million units at C$0.16 per unit.
• Each unit includes one common share and one warrant to purchase an additional share at C$0.20 for three years; insiders may subscribe for up to 1 million units ($160,000).
• Proceeds will be used for general corporate purposes; the placement is subject to TSX approval and a four‑month regulatory hold period.

Key Details

• Units offered: 4,200,000 units at C$0.16 per unit → gross proceeds of $672,000.
• Unit composition: 1 common share + 1 share purchase warrant (exercise price C$0.20, exercisable for three years).
• Finder’s fee: Up to 7% payable in finder’s units (each consisting of 1 share + 1 non‑transferable warrant with same terms).
• Insider participation: Company insiders may subscribe for up to 1,000,000 units → up to $160,000 gross proceeds.
• Related‑party transaction: Treated as a related‑party transaction under MI 61‑101; exemption from formal valuation and minority approval because insider interest will not exceed 25% of fair market value.
• Regulatory hold: Securities subject to a four‑month plus one day hold period from issuance date.
• Use of proceeds: General corporate purposes.
• Approval required: Placement pending Toronto Stock Exchange approval; company will file a material change report for the related‑party aspect.

Notable Quotes

(No executive quotes were provided in the release.)