Silver Elephant Mining Corp. announced a non-brokered private placement for issuance of 700,000 units at a price of CAD 0.30 per unit for gross proceeds of CAD 210,000 on April 9, 2024. Each unit consists of one common share and one half of one share purchase warrant with each whole warrant entitling the holder to purchase one additional common share at a price of CAD 0.45 per share for a period of three years from issuance.

The transaction included participation from the directors of the company for up to 495,700 units for gross proceeds of up to CAD 148,710. 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. The private placement is subject to Toronto Stock Exchange approval.