Silver Elephant Closes $216,000 Non-Brokered Private Placements

Silver Elephant Mining Corp. has completed two tranches of a non-brokered private placement, raising a total of $216,000 through the sale of 1,080,000 units priced at $0.20 each. Each unit consists of one common share and one warrant, allowing the purchase of an additional share at $0.30 within three years. Director John Lee subscribed to all units in the second tranche and part of the first, while significant shareholder Ron Motz also participated, making these related party transactions exempt from formal valuation and minority shareholder approval due to the size relative to market capitalization. The capital raised will be used for general corporate purposes, supporting Silver Elephant's gold and silver exploration projects in Bolivia. Securities issued are subject to a regulatory hold period of four months and one day. Despite these funding efforts, the company faces financial challenges with zero revenue and ongoing losses, leading to an overall underperform rating by TipRanks.