Silver Elephant Announces Warrant Amendments
Silver Elephant Mining Corp. (SILEF) has announced amendments to 11,676,258 common share purchase warrants, adjusting their exercise price to $0.30 CAD. The amendments will take effect on April 22, 2025, except for insider-held warrants which require shareholder approval.
The warrants, issued between May 2020 and November 2024, originally had exercise prices ranging from $0.45 to $1.60 CAD. Insiders hold 2,726,865 of these warrants, with CEO John Lee holding a significant portion. The new $0.30 exercise price represents a 19.52% premium to the company's five-day volume-weighted average price of $0.217.
The amendments require Toronto Stock Exchange approval and include a limitation on warrant exercise for 10% shareholder Ron Motz, preventing him from acquiring 20% or more of voting rights. This limitation also applies to his 400,000 warrants issued on January 15, 2025.
Silver Elephant Mining Corp. (SILEF) ha annunciato modifiche a 11.676.258 warrant di acquisto di azioni ordinarie, adeguando il loro prezzo di esercizio a 0,30 CAD. Le modifiche entreranno in vigore il 22 aprile 2025, ad eccezione dei warrant detenuti da insider che richiedono l'approvazione degli azionisti.
I warrant, emessi tra maggio 2020 e novembre 2024, avevano inizialmente prezzi di esercizio compresi tra 0,45 e 1,60 CAD. Gli insider detengono 2.726.865 di questi warrant, con il CEO John Lee che detiene una parte significativa. Il nuovo prezzo di esercizio di 0,30 rappresenta un premium del 19,52% rispetto al prezzo medio ponderato per volume delle ultime cinque giornate di 0,217.
Le modifiche richiedono l'approvazione della Borsa di Toronto e includono una limitazione sull'esercizio dei warrant per l'azionista del 10%, Ron Motz, che gli impedisce di acquisire il 20% o più dei diritti di voto. Questa limitazione si applica anche ai suoi 400.000 warrant emessi il 15 gennaio 2025.
Silver Elephant Mining Corp. (SILEF) ha anunciado enmiendas a 11,676,258 garantías de compra de acciones comunes, ajustando su precio de ejercicio a $0.30 CAD. Las enmiendas entrarán en vigor el 22 de abril de 2025, excepto para las garantías en manos de insiders que requieren la aprobación de los accionistas.
Las garantías, emitidas entre mayo de 2020 y noviembre de 2024, tenían precios de ejercicio que oscilaban entre $0.45 y $1.60 CAD. Los insiders poseen 2,726,865 de estas garantías, con el CEO John Lee manteniendo una porción significativa. El nuevo precio de ejercicio de $0.30 representa una prima del 19.52% sobre el precio promedio ponderado por volumen de cinco días de $0.217.
Las enmiendas requieren aprobación de la Bolsa de Valores de Toronto e incluyen una limitación sobre el ejercicio de garantías para el accionista del 10%, Ron Motz, impidiéndole adquirir el 20% o más de los derechos de voto. Esta limitación también se aplica a sus 400,000 garantías emitidas el 15 de enero de 2025.
Silver Elephant Mining Corp. (SILEF)는 11,676,258개의 보통주 매수 보증서에 대한 수정 사항을 발표하며, 이들의 행사 가격을 $0.30 CAD로 조정했습니다. 수정 사항은 2025년 4월 22일부터 시행되며, 주주 승인 필요로 하는 내부자 보유 보증서는 제외됩니다.
2020년 5월부터 2024년 11월 사이에 발행된 보증서는 원래 행사 가격이 $0.45에서 $1.60 CAD 사이였습니다. 내부자는 이 보증서 중 2,726,865개를 보유하고 있으며, CEO인 John Lee가 상당 부분을 차지하고 있습니다. 새로운 $0.30 행사 가격은 회사의 최근 5일간 거래량 가중 평균 가격인 $0.217에 대해 19.52%의 프리미엄을 나타냅니다.
수정 사항은 토론토 증권 거래소의 승인을 요구하며, 10%의 주주인 Ron Motz에 대한 보증서 행사 제한이 포함되어 있어 그가 20% 이상의 의결권을 취득하는 것을 방지합니다. 이 제한은 2025년 1월 15일에 발행된 400,000개의 보증서에도 적용됩니다.
Silver Elephant Mining Corp. (SILEF) a annoncé des modifications concernant 11 676 258 bons de souscription d'actions ordinaires, ajustant leur prix d'exercice à 0,30 CAD. Les modifications entreront en vigueur le 22 avril 2025, sauf pour les bons détenus par des initiés qui nécessitent l'approbation des actionnaires.
Les bons, émis entre mai 2020 et novembre 2024, avaient initialement des prix d'exercice allant de 0,45 à 1,60 CAD. Les initiés détiennent 2 726 865 de ces bons, le PDG John Lee en détenant une part significative. Le nouveau prix d'exercice de 0,30 représente une prime de 19,52% par rapport au prix moyen pondéré par le volume des cinq derniers jours de 0,217.
Les modifications nécessitent l'approbation de la Bourse de Toronto et incluent une limitation sur l'exercice des bons pour l'actionnaire de 10%, Ron Motz, l'empêchant d'acquérir 20% ou plus des droits de vote. Cette limitation s'applique également à ses 400 000 bons émis le 15 janvier 2025.
Silver Elephant Mining Corp. (SILEF) hat Änderungen an 11.676.258 Kaufwarrants für Stammaktien angekündigt und den Ausübungspreis auf $0,30 CAD angepasst. Die Änderungen treten am 22. April 2025 in Kraft, mit Ausnahme von Warrants, die von Insidern gehalten werden und die die Genehmigung der Aktionäre erfordern.
Die zwischen Mai 2020 und November 2024 ausgegebenen Warrants hatten ursprünglich Ausübungspreise von $0,45 bis $1,60 CAD. Insider halten 2.726.865 dieser Warrants, wobei CEO John Lee einen erheblichen Anteil hält. Der neue Ausübungspreis von $0,30 stellt einen 19,52% Aufschlag auf den volumengewichteten Durchschnittspreis des Unternehmens der letzten fünf Tage von $0,217 dar.
Die Änderungen erfordern die Genehmigung der Toronto Stock Exchange und beinhalten eine Einschränkung der Warrantausübung für den 10%-Aktionär Ron Motz, die ihm verbietet, 20% oder mehr der Stimmrechte zu erwerben. Diese Einschränkung gilt auch für seine 400.000 Warrants, die am 15. Januar 2025 ausgegeben wurden.
- New warrant exercise price ($0.30) represents a 19.52% premium to current trading price
- Significant reduction in warrant exercise prices (from $0.45-$1.60 to $0.30) could lead to potential dilution
- Large portion of warrants (2,726,865) held by insiders indicates concentrated control
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that it is amending the exercise price of 11,676,258 common share purchase warrants (the "Warrants") to
The following table sets out the details of the Warrant Amendments:
| Issue Date | Number of Warrants Outstanding | Original Exercise Price (CAD) | Amended Exercise Price (CAD) | Insider Ownership (Number of Warrants) | Expiry Date |
| May 1, 2020 | 463,800 | N/A | May 1, 2025 | ||
| May 20, 2020 | 496,200 | N/A | May 20, 2025 | ||
| August 25, 2022 | 325,400 | 125,0001 | August 25, 2025 | ||
| December 5, 2022 | 3,152,266 | 1,500,0002 | December 2, 2025 | ||
| December 9, 2022 | 30,000 | N/A | December 9, 2025 | ||
| March 22, 2023 | 1,500,000 | N/A | March 22, 2026 | ||
| March 31, 2023 | 1,162,761 | 311,1113 | March 31, 2026 | ||
| August 17, 2023 | 319,999 | 90,0004 | August 17, 2026 | ||
| April 29, 2024 | 456,900 | 125,0005 | April 29, 2027 | ||
| May 24, 2024 | 125,000 | N/A | May 24, 2027 | ||
| July 23, 2024 | 2,475,778 | N/A | July 23, 2027 | ||
| August 13, 2024 | 163,254 | 75,7546 | August 13, 2027 | ||
| October 17, 2024 | 409,900 | N/A | October 17, 2027 | ||
| November 4, 2024 | 595,000 | 500,0007 | November 4, 2027 | ||
| TOTAL | 11,676,258 | N/A | 2,726,865 |
Notes:
- 125,000 Warrants held by John Lee, Chief Executive Officer.
- 1,000,000 Warrants held by John Lee, Chief Executive Officer and 500,000 Warrants held by Ron Motz,
10% shareholder. - 291,111 Warrants held by John Lee, Chief Executive Officer and 20,000 Warrants held by Douglas Flett, Director.
- 90,000 Warrants held by John Lee, Chief Executive Officer.
- 40,000 Warrants held by Douglas Flett, Director and 85,000 Warrants held by Greg Hall, Director.
- 75,754 Warrants held by John Lee, Chief Executive Officer.
- 500,000 Warrants held by John Lee, Chief Executive Officer.
Insiders hold 2,726,865 of the Warrants (the "Insider Warrants") and the Warrant Amendments for the Insider Warrants are subject to disinterested shareholder approval. The Company anticipates obtaining shareholder approval at its next Annual General Meeting.
Insiders are "related parties" of the Company and therefore the Warrant Amendments affecting the Insider Warrants constitute a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions ("MI 61-101). The Company relies on the exemption from the formal valuation requirements provided under section 5.5(a) of MI 61-101 as the fair value of the Insider Warrants does not exceed
The amended warrant exercise price of
The Warrant Amendments remain subject to Toronto Stock Exchange ("TSX") approval.
The TSX has also advised that warrants held by Mr. Motz, an Insider as set out above, will be subject to a limitation on the exercise whereby he may not exercise any warrants if such exercise would result in Mr. Motz owning
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:
Phone: +1.604.569.3661 ext. 101
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 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 information is 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 information 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 information 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/247791
FAQ
What is the new exercise price for Silver Elephant Mining (SILEF) warrants after the amendment?
How many warrants are affected by Silver Elephant's (SILEF) price amendment?
When will SILEF's warrant amendments take effect?
What restrictions apply to Ron Motz's warrants in Silver Elephant Mining (SILEF)?
