Silver Elephant increases private placement to C$882,000

Silver Elephant Mining Corp. has raised the size of its recent private placement to a maximum of 7,350,000 units, priced at C$0.12 per unit, with the potential to raise up to C$882,000 in gross proceeds. Each unit includes one common share and one share purchase warrant, which grants the holder the right to purchase one additional share at C$0.16 per share over a three-year period.

The company also allows for finder's fees, which can be paid in finder's units, each consisting of one share and one non-transferable share purchase warrant with the same terms as the standard warrants. Silver Elephant anticipates relying on exemptions from minority shareholder approval and formal valuation requirements, as the company's market capitalization is not expected to be significantly impacted by the issuance of these units.

The securities will be subject to a regulatory hold period of four months and one day following issuance. The company aims to utilize the net proceeds for general working capital purposes and plans to complete the private placement by October 9, 2026, subject to approval by the Toronto Stock Exchange.

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