Business
Silver Elephant Closes $1,330,940 First Tranche of Private Placement
VANCOUVER, BC / ACCESSWIRE / May 1, 2020 / Silver Elephant Mining Corp. ("Silver Elephant" ...
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Silver Elephant Closes $1,330,940 First Tranche of Private PlacementVANCOUVER, BC / ACCESSWIRE / May 1, 2020 / Silver Elephant Mining Corp. (\"Silver Elephant\" or the \"Company\") (TSX:ELEF)(OTCQX:SILEF)(Frankfurt:1P2N) announces that it has closed the first tranche of the non-brokered private placement (the \"Placement\") announced on April 15, 2020. The first tranche of the Placement raised gross cash proceeds of $1,330,940 through the issuance of 10,238,000 units (the \"Units\") of Silver Elephant at a price of $0.13 per Unit. Each Unit is comprised of one Common share and one Common share purchase warrant (the \"Warrants\"). Each Warrant entitles the holder to purchase one additional Common share of the Company at an exercise price of $0.16 for a period of three years from the closing of the first tranche of Placement.The Company paid $3,250 in cash and issued 156,900 Units as finder's fees.The Company expects to close the second and final tranche of the fully subscribed Placement shortly in May 2020.All Common shares attached to the Units issued in connection with the Placement are subject to a four month and one day hold period.The Placement proceeds are expected to be used for the Company's mineral project development and for general working capital purposes.About Silver ElephantSilver Elephant is developing its premier Pulacayo silver project in Bolivia. Further information on Silver Elephant can be found at www.silverelef.com.SILVER ELEPHANT MINING CORP.ON BEHALF OF THE BOARD\"Michael Doolin\"Chief Executive OfficerFor more information about Silver Elephant, please contact Investor Relations:+1.604.569.3661 ext. [email protected] www.silverelef.comNeither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking StatementsCertain statements contained in this news release, including statements which may contain words such as \"expects\", \"anticipates\", \"intends\", \"plans\", \"believes\", \"estimates\", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management'...