Nevada Vanadium, LLC entered into a binding definitive asset purchase agreement to acquire Bisoni Vanadium Project in south of the town of Eureka, Nevada from CellCube Energy Storage Systems Inc. (CNSX:CUBE) for $2.2 million on August 24, 2020. Subject to the terms and conditions in the asset purchase agreement, Nevada Vanadium by its parent Silver Elephant issuing 4 million Silver Elephant common shares and paying $0.2 million cash to Cellcube at closing. Additionally, Silver Elephant will make a one-time payment to CellCube of $0.5 million worth of Silver Elephant’s common shares, upon the price of European vanadium pentoxide price exceeding $12 a pound for 30 consecutive business days, occurring on or before December 31, 2023. The transaction is subject to the final approval of the Toronto Stock Exchange and closing of the acquisition is expected in September, 2020. Nevada Vanadium LLC completed the acquisition of Bisoni Vanadium Project in south of the town of Eureka, Nevada from CellCube Energy Storage Systems Inc. (CNSX:CUBE) on September 18, 2020.