elef_ex991
Silver Elephant Closes Final Tranche of Oversubscribed Private
Placement for Gross Proceeds of $1,796,000
Vancouver, British Columbia, November 15, 2021 – Silver
Elephant Mining Corp. (“Silver Elephant”
or the “Company”) (TSX:
ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces it has closed the third and final
tranche (the “Closing”) of its private placement offering
announced on September 6, 2021 which was upsized as described in a
news release on October 22, 2021.
Pursuant to the Closing, the Company issued 8,163,640 Shares for
gross proceeds of $1,796,000. In total, the Company raised
$3,740,000 through the aggregate sale of 17,000,000 common shares
of the Company (“Shares”) at $0.22 per Share.
No fees were paid in connection with this third tranche
closing.
The Shares issued in connection with the Closing are subject to a
regulatory hold period expiring on March 13, 2022.
The Closing proceeds are expected to be used for the
Company’s mineral project development and for general working
capital purposes.
About Silver Elephant
Silver Elephant Mining Corp. is a premier mining and exploration
company in silver, nickel, and vanadium.
Further information on Silver Elephant can be found at
www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON
BEHALF OF THE BOARD
“John Lee”
Executive Chairman
For more information about Silver Elephant, please contact Investor
Relations:
+1.604.569.3661 ext. 101
ir@silverelef.com www.silverelef.com
Neither the Toronto Stock Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Toronto
Stock Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain
statements contained in this news release, including statements
which may contain words such as “expects”,
“anticipates”, “intends”,
“plans”, “believes”,
“estimates”, or similar expressions, and statements
related to matters which are not historical facts, are
forward-looking information within the meaning of applicable
securities laws. Such forward-looking statements, which reflect
management’s expectations regarding Silver Elephant’s
future growth, results of operations, performance, business
prospects and opportunities, are based on certain factors and
assumptions and involve known and unknown risks and uncertainties
which may cause the actual results, performance, or achievements to
be materially different from future results, performance, or
achievements expressed or implied by such forward-looking
statements.
These
factors should be considered carefully, and readers should not
place undue reliance on the Silver Elephant’s forward-looking
statements. Silver Elephant believes that the expectations
reflected in the forward-looking statements contained in this news
release and the documents incorporated by reference herein are
reasonable, but no assurance can be given that these expectations
will prove to be correct. In addition, although Silver Elephant has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. Silver Elephant undertakes no obligation to
release publicly any future revisions to forward-looking statements
to reflect events or circumstances after the date of this news or
to reflect the occurrence of unanticipated events, except as
expressly required by law.
None of
the securities to be issued pursuant to the Offering have been or
will be registered under the United States Securities Act of 1933,
as amended (the “U.S.
Securities Act”), or any state securities laws, and
any securities issuable in the transaction are anticipated to be
issued in reliance upon available exemptions from such registration
requirements pursuant to Section 3(a)(10) of the U.S. Securities
Act and applicable exemptions under state securities laws. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities.