Silver Elephant Mining Corp. announced a non-brokered private placement of up to 1,500,000 units at an issue price of CAD 0.45 per share for gross proceeds of up to CAD 675,000 on March 13, 2023. Each unit will consist of one common share and one share purchase warrant with each warrant entitling the holder to purchase one additional share at a price of CAD 0.55 per share for 3 years.

The transaction will include participation from John Lee, Executive Chairman for 310,000 units for gross proceeds of up to CAD 139,500. The securities issued will be subject to a hold period of four months from the date of issue. The transaction expected to close on or about April 5, 2023.

The company will pay finder's fees of up to 7% cash or 7% finder's units. Each finder's unit will consist of one common share of the company and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share at a price of CAD 0.55 per share for 3 years. The transaction is subject to approval from Toronto Stock Exchange.