Silver Elephant Mining Corp. announced a non-brokered private placement of 2,000,000 units at a price of CAD 0.48 per unit for the gross proceeds of CAD 960,000 on July 11, 2024. Each unit consists of one common share of the company and one share purchase warrant with each warrant entitling the holder to purchase one additional Share at a price of CAD 0.70 per Share for a period of three years from issuance.

The securities issued as part of the private placement will be subject to a regulatory hold period of four months plus one day from the date of issue. Directors of the company, will be subscribing for, in the aggregate, up to 400,000 Units for gross proceeds of up to CAD 192,000. The private placement is subject to approval by the Toronto Stock Exchange.