Silver Elephant Announces $840,000 Non-Brokered Private Placement
Silver Elephant plans a $840,000 non-brokered unit financing with insider participation and three-year warrants, subject to Toronto Stock Exchange approval.
Rhea-AI Summary
Silver Elephant Mining (SILEF) announced a non-brokered private placement to raise gross proceeds of $840,000 through the sale of 7,000,000 units at $0.12 per unit.
Each unit includes one common share and one warrant exercisable at $0.16 per share for three years. Finder’s fees of up to 7% in Finder’s Units may be paid, with each Finder’s Unit comprising one share and one non-transferable warrant at the same exercise price and term. Insiders are expected to subscribe for up to 2,000,000 units for gross proceeds of up to $240,000, which is characterized as a related party transaction under MI 61-101.
The company expects to rely on exemptions from minority approval and formal valuation requirements as the insider portion is not anticipated to exceed 25% of market capitalization. Securities will be subject to a hold period of four months plus one day, and the placement is primarily for general working capital and remains subject to Toronto Stock Exchange approval.
Positive
- $840,000 to be raised via non-brokered private placement
- Issue of 7,000,000 units provides immediate equity funding
- Insiders expected to subscribe for up to 2,000,000 units ($240,000)
- Three-year warrants at $0.16 may supply additional future capital
Negative
- Issuance of 7,000,000 new shares plus warrants implies equity dilution
- Private placement remains subject to Toronto Stock Exchange approval
- Securities subject to four months plus one day hold period limit liquidity
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2026) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") to raise gross proceeds of
Finder's Fees of up to
Insiders of Company are expected to subscribe for up to 2,000,000 Units for gross proceeds of up to
The securities issued under the Private Placement will be subject to a regulatory hold period of four months plus one day from the date of issue. The Company intends to use the net proceeds from the Private Placement primarily for general working capital purposes.
The Private Placement is subject to approval by the Toronto Stock Exchange.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company that optioned the Robinson-Lasher zinc-
germanium-gallium project in Kentucky located near a proposed US
Further information on Silver Elephant can be found at www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
"John Lee"
CEO and Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Such forward-looking information, which reflects management's expectations regarding Silver Elephant's future growth, results of operations, performance, business prospects and opportunities, is based on certain factors and assumptions and involves known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking information. Forward-looking information in this news release includes the use of proceeds raised from the Private Placement.
Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: market conditions; changes in business plans; ability to secure sufficient financing to advance the Company's mining projects; and general economic conditions. Additional risk factors about the Company are set out in its latest annual and interim management's discussion and analysis and annual information form available under the Company's profile on SEDAR at www.sedarplus.ca.
Forward-looking information is based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking information included herein. Readers are cautioned that all forward-looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking information in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312880