Silver Elephant completes $825,000 private placement fundraising

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) completed the second and final tranche of its non-brokered private placement, raising $260,000 through the sale of 1,040,000 units at $0.25 per unit.

The Vancouver-based mineral exploration company raised a total of $825,000 across both tranches of the private placement, with the first tranche closing on January 23, 2026.

Each unit consists of one common share and one share purchase warrant. The warrants entitle holders to purchase one additional share at $0.32 per share for three years from issuance.

The company issued 28,000 finder's units to eligible finders in connection with the placement. Three company insiders subscribed for $85,000 of the total proceeds.

The insider participation constitutes a related party transaction under Multilateral Instrument 61-101. Silver Elephant relied on exemptions from formal valuation and minority shareholder approval requirements because insider participation did not exceed 25% of the company's market capitalization fair value.

Securities issued under the private placement are subject to a four-month-plus-one-day regulatory hold period from the issue date. The company plans to use proceeds for general corporate purposes.

Silver Elephant focuses on developing its silver-lead-zinc project in Bolivia.

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