Silver Elephant Closes Second and Final Tranche of Non-Brokered Private Placement Raising Gross Proceeds of $445,411
Rhea-AI Summary
Silver Elephant Mining Corp (OTCQB: SILEF) closed the second and final tranche of a non-brokered private placement on October 15, 2025, raising gross proceeds of $445,411 through the sale of 2,783,824 Units at $0.16 per Unit. Each Unit includes one common share and one warrant exercisable at $0.20 per Share for three years.
Finder's Fees of 145,250 Finder's Units were issued. Director John Lee subscribed for 193,750 Units for $31,000; this is a related party transaction for which the company relied on MI 61-101 exemptions and will file a material change report. Securities are subject to a regulatory hold period of four months plus one day. Proceeds are expected to be used for general corporate purposes.
Positive
- Gross proceeds of $445,411
- 2,783,824 Units issued at $0.16 per Unit
- Warrants exercisable at $0.20 for three years
- Issued 145,250 Finder's Units as finders' fees
Negative
- Immediate dilution from 2,783,824 newly issued Shares
- Potential further dilution from 2,783,824 outstanding Warrants
- Related party subscription: 193,750 Units by director John Lee
- Use of proceeds stated as general corporate purposes (unspecified)
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE:1P2) ("Silver Elephant" or the "Company") announces that, further to its news release dated September 4, 2025 and September 17, 2025, it has closed the second and final tranche of its non-brokered private placement (the "Private Placement") raising gross proceeds of
Finder's Fees of 145,250 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 193,750 Units for gross proceeds of
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/270595
FAQ
How much did Silver Elephant (SILEF) raise in the October 15, 2025 private placement?
How many Units and at what price did Silver Elephant (SILEF) issue on October 15, 2025?
What are the warrant terms in Silver Elephant's (SILEF) October 2025 financing?
Did a related party participate in Silver Elephant's (SILEF) private placement on October 15, 2025?
Are the securities from Silver Elephant's (SILEF) private placement restricted?
What will Silver Elephant (SILEF) use the private placement proceeds for?
