- Silver Elephant Mining (ELEF) has closed the first tranche of a private placement for gross proceeds of $320,000
- Under the first tranche, the company issued 640,000 units at at $0.50 per unit
- Net proceeds will be used for exploration, working capital and general corporate purposes
- Silver Elephant Mining Corp. is a silver mining and exploration company
- Silver Elephant Mining Corp. (ELEF) opened trading at C$0.61
Silver Elephant Mining (ELEF) has closed the first tranche of a private placement for gross proceeds of $320,000.
Under the first tranche of its previously announced placement, the company issued 640,000 units at at $0.50 per unit. Each unit will consist of one common share and one-half share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share at $0.65 per share for three years.
The company issued 10,800 units as finder’s fees.
The securities issued will be subject to a statutory four-month hold period.
The offering is expected to close on or about September 20, 2022.
Net proceeds will be used for exploration, working capital and general corporate purposes.
Silver Elephant Mining Corp. is a silver mining and exploration company advancing silver mining projects in Bolivia and plans to spin out Mongolia coal projects in 2022.
Silver Elephant currently owns 37 per cent of Battery Metals Royalties Corp., an investment company in nickel and vanadium mining.
Silver Elephant Mining Corp. (ELEF) opened trading at C$0.61.