Silver Elephant Closes Second and Final Tranche of Non-Brokered Private Placement

Executive Summary

• Silver Elephant Mining Corp. closed the second and final tranche of its non‑brokered private placement, raising $260,000 from the sale of 1,040,000 units at $0.25 per unit.
• Combined with the first tranche, total gross proceeds to date amount to $825,000.
• Units consist of one common share and one warrant (exercise price $0.32, three‑year term); proceeds will be used for general corporate purposes.

Key Details

• Tranche 2 proceeds: $260,000 gross from 1,040,000 units @ $0.25 per unit.
• Total financing to date: $825,000 gross (first tranche closed Jan 23 2026).
• Unit composition: 1 common share + 1 warrant; warrant exercisable at $0.32 per share for three years from issuance.
• Finder’s Units: 28,000 units issued to eligible finders under the same terms as public units.
• Insider participation: Three insiders subscribed for $85,000 aggregate; transaction qualifies as a related‑party transaction under MI 61‑101 and will be reported via a material change report.
• Regulatory hold: Securities subject to a four‑month plus one day hold period from issuance date.
• Use of proceeds: Expected to fund general corporate purposes.

Notable Quotes

• “The successful completion of the private placement provides us with additional capital to advance our exploration program and support ongoing corporate initiatives.” – John Lee, CEO and Executive Chairman.