Silver Elephant closes first tranche of private placement for $290,000

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) announced it has completed the first tranche of its non-brokered private placement, raising gross proceeds of $290,000 through the sale of 1,160,000 units at $0.25 per unit.

Each unit consists of one common share and one share purchase warrant. The warrants entitle holders to purchase one additional share at $0.30 per share for three years from issuance.

John Lee, a company director, subscribed for 250,000 units for $62,500, while Ron Motz, a shareholder holding more than 10% of the company's common shares, subscribed for 150,000 units for $37,500. These transactions are considered related party transactions under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements as the participants' involvement did not exceed 25% of the company's market capitalization fair market value.

The securities issued will be subject to a regulatory hold period of four months plus one day from the date of issue. The company expects to use proceeds for general corporate purposes.

The second and final tranche of the private placement is expected to close on or around December 29, 2025, subject to regulatory approval.

Silver Elephant Mining Corp. is a mineral exploration company with gold and silver projects in Bolivia.

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