Silver Elephant Closes First Tranche of Non-Brokered Private Placement Raising Gross Proceeds of $264,308

Core Points - Silver Elephant Mining Corp. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $264,308 through the sale of 1,651,926 units at a price of $0.16 per unit [1] - Each unit consists of one common share and one share purchase warrant, with warrants allowing the purchase of additional shares at $0.20 for three years [1] - The proceeds from the private placement are intended for general corporate purposes [4] Group 1 - The private placement included related party transactions, with Director John Lee subscribing for 406,250 units for $65,000 and shareholder Ron Motz subscribing for 400,000 units for $64,000 [3] - The company relied on exemptions from formal valuation and minority shareholder approval requirements due to the participation not exceeding 25% of the fair market value of the company's market capitalization [3] - A material change report will be filed regarding the related party transactions [3] Group 2 - Finder's fees of 14,000 Finder's Units were paid, with each Finder's Unit consisting of one share and one warrant [2] - 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 [4] - Silver Elephant Mining Corp. is a mineral exploration company with gold and silver projects in Bolivia [6]