Silver Elephant increases private placement to C$882,000

VANCOUVER - Silver Elephant Mining Corp. has expanded the scope of its private placement, aiming to raise up to C$882,000 through the issuance of 7,350,000 units at a price of C$0.12 per unit. These units include one common share and one share purchase warrant, which grants the holder the right to purchase an additional share at C$0.16 per share for a period of three years following issuance.

Finder's fees of up to 7% may be payable in the form of finder's units, each comprising one share and one non-transferable share purchase warrant. A portion of the shares will be allocated to company insiders, constituting a related party transaction. The company anticipates that the private placement will not necessitate minority shareholder approval or a formal valuation, as the fair market value of the units and the consideration to be paid by insiders are expected to remain below 25% of the company's market capitalization.

The securities issued will be subject to a regulatory hold period of four months and one day post-issuance under Canadian securities laws. The net proceeds from the private placement will primarily be utilized to bolster the company's working capital. Silver Elephant aims to finalize the private placement by October 9, 2026, contingent upon approval by the Toronto Stock Exchange.

The company possesses an option on the Robinson-Lasher zinc-germanium-gallium project in Kentucky, as well as operates the Apuradita silver project in Bolivia.