- Silver Elephant Mining Corp. (ELEF) has proposed to undertake a non-brokered private placement
- Silver Elephant offered up to 3 million units of the company at a price of $0.45 per unit to raise aggregate gross proceeds of up to $1,350,000
- The company intends to use the proceeds of the placement for exploration, working capital and general corporate purposes
- Silver Elephant Mining Corp. is a premier silver mining and exploration company
- Silver Elephant Mining Corp. was down 3.279 per cent, trading at $0.59 at 9:38 AM ET
Silver Elephant Mining Corp. (ELEF) has proposed to undertake a non-brokered private placement.
Silver Elephant offered up to 3 million units of the company at a price of $0.45 per unit to raise aggregate gross proceeds of up to $1,350,000.
Each unit will consist of one common share of the company and one share purchase warrant with each warrant entitling the holder to purchase one additional share of the company at a price of $0.55 per share for 3 years.
The securities issued as part of the placement will be subject to a hold period of four months plus one day from the date of issue.
Closing of the placement is expected to occur on or about December 10, 2022.
John Lee, Executive Chairman will be subscribing for 1,000,000 units for gross proceeds of $450,000.
The company intends to use the proceeds of the placement for exploration, working capital and general corporate purposes.
Silver Elephant Mining Corp. is a premier silver mining and exploration company.
Silver Elephant Mining Corp. was down 3.279 per cent, trading at $0.59 at 9:38 AM ET.