Silver Elephant Increases Previously Announced Non-Brokered Private Placement to $735,200

Core Points - Silver Elephant Mining Corp. proposes to amend the terms of its non-brokered private placement to raise gross proceeds of $735,200 through the sale of 4,595,000 units at a price of $0.16 per unit [1] - Each unit consists of one common share and one share purchase warrant, allowing the holder to purchase an additional share at $0.20 for three years [1] - Company insiders will subscribe for 1,000,000 units for gross proceeds of up to $160,000, which is considered a related party transaction [3] Financial Details - The total gross proceeds from the private placement will be $735,200, with each unit priced at $0.16 [1] - Insiders' participation will not exceed 25% of the fair market value of the Company's market capitalization, allowing the company to rely on exemptions from formal valuation and minority shareholder approval [3] Regulatory and Usage Information - The securities issued will be subject to a regulatory hold period of four months plus one day from the date of issue [4] - Proceeds from the private placement are expected to be used for general corporate purposes [4] - The private placement is subject to approval by the Toronto Stock Exchange [4] Company Overview - Silver Elephant Mining Corp. is a mineral exploration company with gold and silver projects located in Bolivia [5]