On April 4, 2023, Silver Elephant Mining Corp. closed the transaction. The company issued 1,128,111 Units for aggregate gross proceeds of CAD 507,650 in its second and final tranche.

The company issued a total of 2,628,111 units for CAD 1,182,650. The round was oversubscribed. The company issued an aggregate of 34,650 units to eligible finders as finder's fees in accordance with the policies of the TSX.

Each finder's unit will consist of one common share of the Company and one nontransferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the company at a price of CAD 0.55 per share for 3 years. The transaction included participation from John Lee, Executive Chairman, subscribed for 291,111 Units for gross proceeds of CAD 131,000.