Silver Elephant Announces a $375,000 Non-Brokered Private Placement

Rhea-AI Summary

Silver Elephant (TSX: ELEF / OTCQB: SILEF) announced a non-brokered private placement to raise gross proceeds of $375,000 by issuing 1,500,000 units at $0.25 per unit. Each unit includes one common share and one warrant exercisable at $0.30 for three years. Finder's fees of up to 7% in Finder's Units may be payable. Certain directors and officers may subscribe for up to 600,000 units (up to $150,000), a related party participation for which the company expects to rely on applicable MI 61-101 exemptions. Securities will be subject to a four-month-plus-one-day hold and the financing is subject to Toronto Stock Exchange approval. Proceeds intended for general working capital.

Positive

• Private placement raises $375,000 in gross proceeds
• Issuance includes 1,500,000 units at $0.25 each
• Insiders may subscribe up to 600,000 units ($150,000)
• Warrants exercisable at $0.30 for three years

Negative

• Potential dilution: 1,500,000 shares plus 1,500,000 warrants
• Finder's fees up to 7% payable in units
• Related-party participation relying on MI 61-101 exemptions
• Securities subject to a four-month-plus-one-day regulatory hold

Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - 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 $375,000 through the sale of 1,500,000 units (the "Units") at a price of $0.25 per unit. Each Unit consists of one common share of the Company (each, a "Share") and one share purchase warrant with each warrant (each, a "Warrant") entitling the holder to purchase one additional Share at a price of $0.30 per Share for a period of three years from issuance.

Finder's Fees of up to 7% Finder's Units will be payable. Each Finder's Unit will consist of one Share and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.30 per share for three years.

Certain directors and officers of the Company are expected to be subscribing for up to 600,000 Units for gross proceeds of up to $150,000. Such participation will be considered to be a "related party transaction" as defined under Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be acquired by the participating directors and officers nor the consideration to be paid by such directors and officers is anticipated to exceed 25 percent of the Company's market capitalization.

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 with gold and silver projects in Bolivia.

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

info@silverelef.com
www.silverelef.com

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/276619

FAQ

What is the size and price of Silver Elephant's December 2, 2025 private placement (SILEF)?

The company aims to raise $375,000 by issuing 1,500,000 units at $0.25 per unit.

What does each Silver Elephant unit include in the SILEF private placement?

Each unit includes one common share and one warrant exercisable at $0.30 for three years.

How much are directors and officers expected to subscribe in the SILEF private placement?

Certain directors and officers may subscribe for up to 600,000 units for gross proceeds up to $150,000.

Will Silver Elephant pay finder’s fees for the SILEF financing and how large are they?

Finder's fees of up to 7% may be payable, settled in Finder's Units under the offering.

When can purchasers trade the securities issued in Silver Elephant's private placement (SILEF)?

Securities will be subject to a four-month-plus-one-day regulatory hold from issuance.

What will Silver Elephant use the net proceeds from the SILEF private placement for?

The company intends to use net proceeds primarily for general working capital.

Is Silver Elephant's December 2, 2025 private placement subject to regulatory approval?

Yes, the private placement is subject to approval by the Toronto Stock Exchange.