Silver Elephant Mining Corp Stock Price, News & Analysis

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.

Silver Elephant Mining Corp. has successfully closed the second tranche of its private placement offering, raising $1,025,800 through the issuance of 4,662,727 common shares at $0.22 per share. This follows an increase in the offering size from 15 million to 17 million shares, targeting total gross proceeds of $3,740,000. The funds will support mineral project development and general working capital. Additionally, 141,000 Finder's Warrants were issued, exercisable at $0.26 until October 2022. The shares are subject to a hold period until February 22, 2022.

Silver Elephant Mining Corp. has announced the filing of an independent Technical Report on the Gibellini Vanadium Project, conducted by Wood Group USA, Inc. and Mine Technical Services Ltd. The report, dated October 8, 2021, updates the preliminary economic assessment (PEA) for the project. This development reflects the company's ongoing efforts to advance its nickel, silver, and vanadium projects in Nevada. The report is available on SEDAR, highlighting Silver Elephant's commitment to transparency and reporting in the mining sector.

Silver Elephant Mining Corp. has appointed Robert Van Drunen as Chief Operating Officer effective September 27, 2021. Van Drunen, who has over 30 years of experience at Vale and Inco, will oversee the company’s mining projects in Bolivia and Mongolia. He also aims to assist with the spinout plan for Flying Nickel Mining Corp., which will operate the Minago nickel project. His focus will be on exploration, permitting, mine construction, and production, leveraging his track record in process improvement and safety culture.

Silver Elephant Mining Corp. has completed the first tranche of a private placement, raising $918,199 by issuing 4,173,632 common shares at $0.22 each. This is part of a larger offering aiming for $3,300,000 from 15,000,000 shares. The funds will support mineral project development and general working capital. Additionally, the company granted 6,500,000 options to directors and employees at $0.26 per share, vesting over two years. The final tranche is expected by October 15, 2021.

Silver Elephant Mining Corp. is set to implement a plan of arrangement to spin out its projects, including the Minago Nickel and Gibellini Vanadium projects, into new entities: Flying Nickel Mining Corp., Nevada Vanadium Mining Corp., and Battery Metals Royalties Corp.. This restructuring is expected around December 2021, with significant share distribution changes for shareholders. Post-Arrangement, Silver Elephant will retain its core silver and gold-silver projects in Bolivia, alongside a 33.2% stake in Battery Royalties. Shareholder approval will be sought in early-to-mid December.

Silver Elephant Mining Corp. announced that all resolutions were approved during the Annual General and Special Meeting held on September 10, 2021. Key voting results showed significant support: 99.83% approved the number of directors fixed at four, and 99.92% re-appointed Davidson & Company LLP as auditors. Notably, a new 10% Rolling Incentive Plan received 70.56% approval, although 29.44% voted against it. The meeting was attended by 173 shareholders representing 23,113,518 shares.

Silver Elephant Mining Corp. (TSX:ELEF, OTCQX:SILEF) announced a proposed non-brokered private placement to raise up to $3.3 million by issuing 15 million common shares at $0.22 per share. Subject to Toronto Stock Exchange approval, the offering is expected to close around September 22, 2021. Proceeds will fund exploration, working capital, and corporate purposes. The shares will be subject to a four-month hold period following issuance. Finder’s fees may apply, subject to TSX policies.