Silver Elephant Closes First Tranche of Non-Brokered Private Placement raising Gross Proceeds of $172,000

Rhea-AI Summary

Silver Elephant Mining (OTCQB: SILEF) has completed the first tranche of its non-brokered private placement, raising $172,000 through the sale of 860,000 units at $0.20 per unit. Each unit includes one common share and one warrant, with warrants exercisable at $0.30 per share for three years.

Notable participants include Director John Lee subscribing for 150,000 units ($30,000) and major shareholder Ron Motz acquiring 200,000 units ($40,000). The company paid Finder's Fees of 33,250 Finder's Units. The proceeds will be used for general corporate purposes, with securities subject to a four-month plus one day regulatory hold period.

Positive

• Insider participation demonstrates management confidence with Director and major shareholder investments
• Warrants provide potential additional funding at $0.30 per share
• Successfully raised initial capital of $172,000 for operations

Negative

• Small offering size of only $172,000 may indicate limited investor interest
• Dilutive effect on existing shareholders
• Relatively low offering price of $0.20 per unit

Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Silver Elephant Mining Corp.  (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that, further to its news releases dated June 11, 2025, it has closed the first tranche of its non-brokered private placement (the "Private Placement") raising gross proceeds of $172,000 through the sale of 860,000 units (the "Units") at a price of $0.20 per unit. Each Unit consists of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant") with each 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 33,250 Finder's Units were paid with each Finder's Unit consisting of one Share and one Warrant.

John Lee, a Director of the Company subscribed for 150,000 Units for gross proceeds of $30,000 and Ron Motz, a shareholder holding more than 10% of the Company's common shares, subscribed for 200,000 Units for gross proceeds of $40,000. The issuance of Units to Mr. Lee and Mr. Motz are considered related party transactions within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that Mr. Lee's and Mr. Motz's participation in the Private Placement did not exceed 25% of the fair market value of the Company's market capitalization. The Company will file a material change report in respect of the related party transaction.

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. Proceeds of the Private Placement are expected to be used for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of that jurisdiction.

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.

Not for distribution to the United States Newswire Services or For Dissemination, Distribution, Release or Publication, Directly or Indirectly into the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256888

FAQ

How much did Silver Elephant Mining (SILEF) raise in its first tranche private placement?

Silver Elephant Mining raised $172,000 through the sale of 860,000 units at $0.20 per unit in the first tranche of its non-brokered private placement.

What are the terms of SILEF's private placement warrants?

Each warrant entitles holders to purchase one additional share at $0.30 per share for a period of three years from issuance.

How much did insiders invest in Silver Elephant's private placement?

Director John Lee invested $30,000 (150,000 units) and major shareholder Ron Motz invested $40,000 (200,000 units), totaling $70,000 in insider participation.

What is the hold period for Silver Elephant Mining's private placement securities?

The securities issued under the private placement have a regulatory hold period of four months plus one day from the date of issue.

How will Silver Elephant Mining (SILEF) use the proceeds from the private placement?

The proceeds from the private placement are expected to be used for general corporate purposes.