Silver Elephant Increases Non-Brokered Private Placement to $465,000

Rhea-AI Summary

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) has increased its non-brokered private placement to raise gross proceeds of $465,000, up from its previous announcement. The company will now offer 3,100,000 units priced at $0.15 per unit. Each unit includes one common share and one share purchase warrant, with warrants exercisable at $0.30 per share for a three-year period. The increased private placement requires Toronto Stock Exchange approval.

Positive

• Private placement increase indicates stronger investor interest
• Three-year warrant term provides extended funding opportunity at $0.30 per share

Negative

• Offering price of $0.15 per unit represents potential dilution for existing shareholders
• Additional capital raising suggests potential cash flow concerns

News Market Reaction – SILEF

+1.94%

1 alert

+1.94% News Effect

On the day this news was published, SILEF gained 1.94%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - January 30, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that, further to its news release dated January 16, 2025 and January 27, 2025, it has increased the size of the private placement (the "Private Placement") to 3,100,000 units (the "Units") for aggregate gross proceeds of $465,000 at a price of $0.15 per Unit. Each unit consists of one common share of the Company ("Share") and one share purchase 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.

The increase is subject to approval by the Toronto Stock Exchange.

About Silver Elephant Mining Corp.

Silver Elephant is a mineral exploration company with the Paca silver project and Triunfo gold project 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 ext. 101
info@silverelef.com
www.silverelef.com

FORWARD-LOOKING INFORMATION

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve 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 statements. Forward-looking information in this news release includes the expected gross proceeds of the Private Placement, 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; ability to complete the financing; 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 statements are 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 statements 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 statements 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/239008

FAQ

What is the new size of Silver Elephant's (SILEF) private placement announced on January 30, 2025?

Silver Elephant increased its private placement to 3,100,000 units for total gross proceeds of $465,000.

What is the price per unit in SILEF's January 2025 private placement?

Each unit in the private placement is priced at $0.15.

What are the terms of the warrants in SILEF's 2025 private placement?

Each warrant allows holders to purchase one additional share at $0.30 per share for a three-year period from issuance.

Does Silver Elephant's increased private placement require regulatory approval?

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