Silver Elephant Mining Corp. announced a non-brokered private placement of up to 2,500,000 units at an issue price of CAD 0.30 per share for gross proceeds of up to CAD 750,000 on June 23, 2023. Each unit will consist of one common share and one half of one common share purchase warrant with each whole warrant entitling the holder to purchase one additional share of the Company at a price of CAD 0.45 per share for 2 years.

The securities issued as part of the transaction will be subject to a hold period of four months plus one day from the date of issue. The transaction is expected to close on or about July 20, 2023. The transaction will include participation from John Lee, Executive Chairman for up to 300,000 units for gross proceeds of up to CAD 90,000.

The transaction is subject to approval by the Toronto Stock Exchange. The company will pay finder’s fees of 7% in Finder's units or cash will be payable in connection with the placement in accordance with the policies of the TSX. Each finder's unit will consist of one common share and one half of one common share purchase warrant with each whole warrant entitling the holder to purchase one additional share of the Company at a price of CAD 0.45 per share for 2 years.