Silver Elephant Closes Second and Final Tranche of Non-Brokered Private Placement Raising Gross Proceeds of $44,000

Rhea-AI Summary

Silver Elephant Mining (OTCQB: SILEF) has completed the second and final tranche of its non-brokered private placement, raising $44,000 through the sale of 220,000 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.

Company Director John Lee subscribed for all 220,000 units. The transaction qualifies as a related party transaction under MI 61-101, but was exempt from formal valuation and minority shareholder approval requirements as it represented less than 25% of the company's market capitalization. Proceeds will be used for general corporate purposes.

Positive

• None.

Negative

• Small private placement size of only $44,000 indicates limited funding
• Entire placement subscribed by company insider suggests possible lack of external investor interest
• Dilutive effect on existing shareholders through issuance of new shares and warrants

Vancouver, British Columbia--(Newsfile Corp. - June 27, 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 and June 25, 2025, it has closed the second and final tranche of its non-brokered private placement (the "Private Placement") raising gross proceeds of $44,000 through the sale of 220,000 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.

John Lee, a Director of the Company subscribed for 220,000 Units for gross proceeds of $44,000. The issuance of Units to Mr. Lee is considered a related party transaction 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 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/257217

FAQ

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

Silver Elephant Mining raised $44,000 through the sale of 220,000 units at $0.20 per unit in the second and final tranche of its non-brokered private placement.

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

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

Who participated in Silver Elephant Mining's private placement?

John Lee, a Director of Silver Elephant Mining, subscribed for all 220,000 units for gross proceeds of $44,000.

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

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

What is the holding period for SILEF's private placement securities?

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.