Business
Silver Elephant Closes Second Tranche of Private Placement for Gross Proceeds of $1,025,800
VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Silver Elephant Mining Corp. ("Silver Elephan...
About this update from Silver Elephant Mining Corp
[{"type":"text","content":"Silver Elephant Closes Second Tranche of Private Placement for Gross Proceeds of $1,025,800VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Silver Elephant Mining Corp. (\"Silver Elephant\" or the \"Company\") (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces that, further to its news release dated September 6, 2021, it has closed the second tranche (the \"Closing\") of its previously announced private placement offering of 15,000,000 common shares of the Company (\"Shares\") at a price per Share of $0.22 for aggregate gross proceeds of $3,300,000 (the \"Offering\"). Pursuant to the Closing, the Company issued an aggregate of 4,662,727 Shares for aggregate gross proceeds from the Closing of $1,025,800.Subsequent to its news release dated September 6, 2021, the Company filed for, and received conditional approval to, increase the fully subscribed Offering from 15,000,000 common shares to 17,000,000 common shares for gross proceeds of $3,740,000.In connection with the Closing, the Company paid $31,020 in cash and issued 141,000 common share purchase warrants (\"Finder's Warrants\") to certain finders as finder's fees. Each Finder's Warrant is exercisable to acquire one common share of the Company at a price of $0.26 until October 21, 2022.The securities issued in connection with the Closing are subject to a regulatory hold period expiring on February 22, 2022.The Closing proceeds are expected to be used for the Company's mineral project development and for general working capital purposes.About Silver ElephantSilver Elephant Mining Corp. is a premier mining and exploration company in silver, nickel, and vanadium.Further information on Silver Elephant can be found at www.silverelef.com.SILVER ELEPHANT MINING CORP.ON BEHALF OF THE BOARD\"John Lee\"Executive ChairmanFor more information about Silver Elephant, please contact Investor Relations:+1.604.569.3661 ext. [email protected] 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\", \"esti...