Silver Elephant Closes First Tranche of Non-Brokered Private Placement raising Gross Proceeds of $172,000
Vancouver, British Columbia--(Newsfile Corp. - June 25, 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, it has closed the first tranche of its non-brokered private placement (the "Private Placement") raising gross proceeds of $172,000 through the sale of 860,000 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.
Finder's Fees of 33,250 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 150,000 Units for gross proceeds of $30,000 and Ron Motz, a shareholder holding more than 10% of the Company's common shares, subscribed for 200,000 Units for gross proceeds of $40,000. The issuance of Units to Mr. Lee and Mr. Motz are considered related party transactions 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 and Mr. Motz'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.
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