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Highlights

  • Silver Elephant Mining proposes a CAD 200,000 non-brokered private placement at CAD 0.20 per unit.
  • Each unit includes one common share and one warrant exercisable at CAD 0.30 for three years.
  • The company insiders are expected to participate for up to CAD 80,000 of the total offering.

Silver Elephant Mining Corp. (TSX:ELEF) is a mineral exploration company focused on projects in Bolivia, with a portfolio of assets primarily targeting gold and silver resources. The company is listed on the Toronto Stock Exchange under the symbol ELEF, as well as trading on the OTCQB under SILEF and the Frankfurt Stock Exchange under 1P2.

The company has announced a non-brokered private placement aimed at raising gross proceeds of approximately CAD 200,000. The placement involves the issuance of 1,000,000 units at a price of CAD 0.20 per unit. Each unit under the private placement will comprise one common share and one share purchase warrant. Each warrant allows the holder to acquire an additional common share at an exercise price of CAD 0.30 per share. The warrants will be exercisable for a period of three years from the date of issuance. The securities issued in connection with the placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities regulations.

A Finder's Fee of up to 7% in Finder's Units may be paid in connection with the private placement. Each Finder's Unit will be composed of one common share and one non-transferable share purchase warrant, with terms identical to those offered in the main placement—exercisable at CAD 0.30 per share for three years.

Insiders of the company, including directors, are expected to subscribe for up to 400,000 units, which represents gross proceeds of CAD 80,000.

Proceeds from the offering are expected to be used for general corporate purposes. The completion of the private placement is subject to the approval of the Toronto Stock Exchange (TSX).