- Silver Elephant Mining (ELEF) has closed the first tranche of its private placement for gross proceeds of $675,000
- The company has also increased the size of the placement to 2,628,111 units for gross proceeds of $1,182,650
- Silver Elephant expects to use the proceeds for exploration works, working capital and general corporate purposes
- Silver Elephant is a premier silver mining and exploration company, with its flagship Pulacayo silver project in Bolivia
- Silver Elephant Mining Corp. (ELEF) opened trading at C$0.47 per share
Silver Elephant Mining (ELEF) has closed the first tranche of its private placement for gross proceeds of $675,000.
The company issued 1,500,000 units in the first tranche. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at $0.55 per share for 3 years.
No Finder’s Fee was payable in connection with the first tranche closing.
The company has also increased the size of the placement to 2,628,111 units for gross proceeds of $1,182,650.
Silver Elephant expects to use the proceeds for exploration works, working capital and general corporate purposes.
A finder’s fees of 7 per cent Finder’s Units may be payable in connection to the placement. Each Finder’s Unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional share at $0.55 per share for 3 years.
All securities issued will be subject to a statutory hold period of four months.
About Silver Elephant Mining
Silver Elephant is a premier silver mining and exploration company, with its flagship Pulacayo silver project in Bolivia. It also owns 100 per cent of Mega Thermal Coal Corp and 39 per cent of Oracle Commodity Holding Corp.
Silver Elephant Mining Corp. (ELEF) opened trading at C$0.47 per share.