Welcome to our dedicated page for Silver Elephant Mining news (Ticker: SILEF), a resource for investors and traders seeking the latest updates and insights on Silver Elephant Mining stock.
Silver Elephant Mining Corp. reports on silver mining, development and exploration activity tied to its Apuradita/Paca Apuradita operation in Bolivia. Company updates center on underground mining, trucking of silver-bearing material to toll-mill facilities, production and sale of silver-lead concentrate, and sampling or development work that defines additional mineralized zones.
Recurring corporate news also includes non-brokered private placements, common-share and warrant issuances, related-party participation under Canadian securities rules, working-capital uses, and early warning disclosures tied to holdings in Oracle Commodity Holding Corp.
Silver Elephant Mining Corp. has received final approval from the British Columbia Supreme Court for its plan of arrangement, following nearly unanimous shareholder approval on December 22, 2021. The arrangement will consolidate common shares on a 10:1 basis effective January 14, 2022. Shareholders will receive common shares in three new entities: Flying Nickel Mining Corp., Nevada Vanadium Mining Corp., and Battery Metals Royalties Corp. Trading in post-consolidation shares is expected to start January 18, 2022, pending TSX bulletin issuance.
Silver Elephant Mining Corp. (TSX: ELEF, OTCQX: SILEF) announced the release of $1.5 million from escrow following the conversion of 1,992,437 flow-through subscription receipts into common shares at $0.77 each. An additional $7.1 million remains in escrow pending court approval. The company issued 4.6 million shares to Victory Nickel Inc. as part of an asset purchase agreement. Notably, no further payments are required unless nickel prices exceed $10 per pound for 30 consecutive days before the end of 2023.
Silver Elephant Mining Corp. announced the approval of all resolutions at its special general meeting held on December 22, 2021. Key voting results included:
- Approval of a special resolution for an arrangement under British Columbia's Business Corporations Act.
- Approval of incentive plans for SpinCo 1, SpinCo 2, and SpinCo 3 with high voter support of 97.53%, 98.43%, and 97.51%, respectively.
- Approval of a resolution for SpinCo 1 Financing with 82.78% in favor.
A final order from the Supreme Court of British Columbia is expected on January 11, 2022, with a subsequent share consolidation.
Silver Elephant Mining Corp. provides an update on its private placement for Flying Nickel Mining Corp., which closed on November 29, 2021, raising $8.6 million. The funds are currently in escrow pending approval from the Toronto Stock Exchange that requires a resolution from disinterested shareholders at a special meeting on December 22, 2021. Notably, interested shareholders, who hold approximately 2.1% of outstanding shares, will be excluded from voting on this resolution. The Company also appointed Flora Lo as corporate secretary.
Silver Elephant Mining Corp. has announced key management appointments for its spinout, Flying Nickel Mining Corp., which is well-funded following an $8.6 million equity offering. CEO Danniel Oosterman will lead the team to advance the Minago project, boasting substantial nickel resources. The new leadership includes seasoned professionals with extensive mining experience, aimed at strengthening operations in the Canadian nickel sector. The project is located in Manitoba’s Thompson Nickel Belt, housing significant nickel deposits and receiving over $40 million in investment since the early 2000s.
Silver Elephant Mining Corp. has successfully completed a private placement through its subsidiary, Flying Nickel Mining Corp., raising $8.6 million. The offering included over 10 million non-flow through subscription receipts priced at $0.70 each and nearly 2 million flow-through eligible receipts at $0.77. Proceeds will support the Minago Nickel Project and general working capital. Key conditions include shareholder approval for a plan of arrangement scheduled for December 22, 2021.
Silver Elephant Mining Corp. announced an upsized private placement for its subsidiary, Flying Nickel Mining Corp., increasing the offering from $7 million to $8.6 million. The offering will consist of Non-FT Subscription Receipts priced at $0.70 and FT Subscription Receipts priced at $0.77. Blackstone Minerals Limited is set to invest $2.975 million, acquiring 4.25 million Non-FT Subscription Receipts, which will give it a projected 6.85% stake in Flying Nickel upon completion. The proceeds will be allocated towards the Minago Nickel Project and general working capital.
Silver Elephant Mining Corp. (TSX:ELEF, OTCQX:SILEF) has successfully closed the final tranche of its private placement, raising a total of $3,740,000 by issuing 17,000,000 shares at $0.22 each. The third tranche alone contributed $1,796,000 from 8,163,640 shares. Proceeds will support mineral project development and working capital. The shares are under a regulatory hold until March 13, 2022. This follows previous announcements regarding the upsized offering.
Silver Elephant Mining Corp. has announced a private placement for its spin-off, Flying Nickel Mining Corp., aiming to raise up to $7,000,000 through the sale of subscription receipts. The offering includes 5,000,000 Non-FT Subscription Receipts priced at $0.70 each and flow-through Subscription Receipts at $0.77. The funds will be escrowed until certain conditions are met, including shareholder and regulatory approvals. The arrangement is expected to close around November 17, 2021, and Flying Nickel aims to list its shares on the TSX Venture Exchange.
Silver Elephant Mining Corp. will hold a Special Meeting of Shareholders on December 14, 2021, at 9:00 am PST. The meeting's purpose is to seek shareholder approval for a Plan of Arrangement and the Spin-Out of the Company's Nickel and Vanadium assets, previously announced on August 26 and September 23, 2021. Shareholders will receive the Notice of Meeting and supporting documents around November 17, 2021. Silver Elephant is recognized as a premier silver mining and exploration company.