Silver Elephant Closes 2nd and Final Tranche of Private Placement Raising Gross Proceeds of $78,362
Silver Elephant Mining Corp. (OTCQB: SILEF) has completed the second and final tranche of its non-brokered private placement, raising $78,362 through the issuance of 163,254 units at $0.48 per unit. Each unit includes one common share and one warrant, allowing the purchase of an additional common share at $0.70 for three years. The proceeds will fund phase one sulphide operations at the Paca silver project in Bolivia and general corporate purposes. CEO John Lee subscribed for 75,754 units, contributing $36,362. No finder's fees were paid, and the securities are subject to a hold period until December 14, 2024.
Silver Elephant Mining Corp. (OTCQB: SILEF) ha completato la seconda e ultima tranche della sua offerta privata non mediata, raccogliendo $78,362 attraverso l'emissione di 163,254 unità a $0.48 per unità. Ogni unità include un'azione comune e un warrant, che consente l'acquisto di un'ulteriore azione comune a $0.70 per tre anni. I proventi finanzieranno le operazioni sulfidiche di fase uno presso il progetto argento Paca in Bolivia e scopi aziendali generali. Il CEO John Lee ha sottoscritto 75,754 unità, contribuendo con $36,362. Non sono state pagate commissioni di intermediazione e i titoli sono soggetti a un periodo di blocco fino al 14 dicembre 2024.
Silver Elephant Mining Corp. (OTCQB: SILEF) ha completado la segunda y última tranche de su colocación privada no mediada, recaudando $78,362 a través de la emisión de 163,254 unidades a $0.48 por unidad. Cada unidad incluye una acción común y un warrant, que permite la compra de una acción común adicional a $0.70 durante tres años. Los fondos se destinarán a las operaciones de sulfuro de fase uno en el proyecto de plata Paca en Bolivia y a fines corporativos generales. El CEO John Lee suscribió 75,754 unidades, contribuyendo con $36,362. No se pagaron comisiones de intermediación y los valores están sujetos a un período de restricción hasta el 14 de diciembre de 2024.
실버 코끼리 마이닝 주식회사 (OTCQB: SILEF)는 비중개권의 사모펀드 두 번째이자 마지막 트랜치를 완료하여 $78,362를 모금했습니다. 이번 자금은 163,254 유닛을 유닛당 $0.48로 발행하여 모집하였습니다. 각 유닛에는 하나의 보통주와 하나의 워런트가 포함되어 있으며, 이는 추가 보통주를 $0.70에 구매할 수 있는 권한을 제공합니다. 이번 자금은 볼리비아 파카 은 프로젝트의 1단계 황화물 운영과 일반 회사 운영에 사용될 예정입니다. CEO 존 리는 75,754 유닛을 구독하며 $36,362를 기여했습니다. 중개 수수료는 지급되지 않았으며, 증권은 2024년 12월 14일까지 보유 기간이 적용됩니다.
La Silver Elephant Mining Corp. (OTCQB: SILEF) a complété la deuxième et dernière tranche de son placement privé sans courtier, levant $78,362 grâce à l'émission de 163,254 unités à $0.48 par unité. Chaque unité comprend une action ordinaire et un bon de souscription, permettant l'achat d'une action ordinaire supplémentaire à $0.70 pendant trois ans. Les fonds serviront à financer la première phase des opérations à sulfure du projet argent Paca en Bolivie et à des fins générales de l'entreprise. Le PDG John Lee a souscrit 75,754 unités, contribuant $36,362. Aucune commission n'a été versée et les titres sont soumis à une période de blocage jusqu'au 14 décembre 2024.
Silver Elephant Mining Corp. (OTCQB: SILEF) hat die zweite und letzte Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und $78,362 durch die Ausgabe von 163,254 Einheiten zu $0.48 pro Einheit eingesammelt. Jede Einheit umfasst eine Stammaktie und ein Warrant, das den Erwerb einer zusätzlichen Stammaktie zu $0.70 für die Dauer von drei Jahren ermöglicht. Die Erlöse werden die erste Phase der Sulfidoperationen im Silberprojekt Paca in Bolivien sowie allgemeine Unternehmenszwecke finanzieren. CEO John Lee hat 75,754 Einheiten gezeichnet und $36,362 beigetragen. Es wurden keine Findergebühren bezahlt, und die Wertpapiere unterliegen einer Haltefrist bis zum 14. Dezember 2024.
- Successful completion of private placement raising additional capital
- Proceeds to be used for phase one sulphide operations at Paca silver project
- CEO's participation in the private placement, demonstrating confidence in the company
- Small size of the private placement ($78,362) may not significantly impact operations
- Potential dilution of existing shareholders due to new share issuance
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) ("Silver Elephant" or the "Company") announces that, further to its news releases dated July 11, 2024, and July 25, 2024, it has closed the second and final tranche of its non-brokered private placement offering (the "Private Placement") raising gross proceeds of
Each Unit consists of one common share of the Company and one share purchase warrant with each warrant (the "Warrant") entitling the holder to purchase one additional common share of the Company at a price of
Proceeds of the Private Placement are expected to be used to commission phase one sulphide operations at the Company's Paca silver project in Potosi department in Bolivia (refer to the Company's news release dated July 8, 2024) and for general corporate purposes.
John Lee, CEO and a Director of the Company (the "Insider") subscribed for 75,754 Units for gross proceeds of
No finder's fees were paid in connection with the 2nd tranche of this Private Placement.
The securities issued in connection with the Private Placement are subject to a regulatory hold period and cannot be traded until December 14, 2024.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Silver Elephant Mining Corp.
Silver Elephant is a silver mining company, with its flagship Pulacayo-Paca silver project in production since October 2023 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"
Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com
www.silverelef.com
Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forwardlooking 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 involves significant risks and uncertainties, should not be read as a guarantee 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 information, including but not limited to: changes in operating plans; ability to secure sufficient financing to advance the Company's project; conditions impacting the Company's ability to mine at the project, such as unfavourable weather conditions, development of a mine plan, maintaining existing permits and receiving any new permits required for the project, and other conditions impacting mining generally; maintaining cordial business relations with strategic partners and contractual counter-parties; meeting regulatory requirements and changes thereto; risks inherent to mineral resource estimation, including uncertainty as to whether mineral resources will be further developed into mineral reserves; political risk in the jurisdictions where the Company's projects are located; commodity price variation; and general market, industry and economic conditions. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis and annual information form (AIF), available 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/219815
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