Silver Elephant Closes Second and Final Tranche of Non-Brokered Private Placement

Core Viewpoint - Silver Elephant Mining Corp. has successfully closed the second and final tranche of its non-brokered private placement, raising a total of $825,000 from the sale of units at a price of $0.25 per unit [1][2]. Group 1: Private Placement Details - The second tranche raised gross proceeds of $260,000 through the sale of 1,040,000 units, bringing the total raised from both tranches to $825,000 [1]. - Each unit consists of one common share and one share purchase warrant, allowing the holder to purchase an additional share at $0.32 for three years [2]. - The company issued 28,000 finder's units to eligible finders, with the same terms as the warrants in the units [2]. Group 2: Insider Participation - Three insiders subscribed for a total of $85,000, which is classified as a related party transaction under Multilateral Instrument 61-101 [3]. - The company relied on exemptions from formal valuation and minority shareholder approval requirements, as the insiders' participation did not exceed 25% of the fair market value of the company's market capitalization [3]. Group 3: Use of Proceeds and Regulatory Information - Proceeds from the private placement are intended for general corporate purposes [4]. - The securities issued will be subject to a regulatory hold period of four months plus one day from the date of issue [4]. Group 4: Company Overview - Silver Elephant Mining Corp. is focused on the development of its silver-lead-zinc project in Bolivia [6].