Silver Elephant Mining Corp. announced a private placement of up to 3,000,000 units at an issue price of CAD 0.50 per share for gross proceeds of up to CAD 1,500,000 on August 4, 2022. Each Unit will consist of one common share of the company and one-half share purchase warrant with each whole warrant entitling the holder to purchase one additional share at a price of $0.65 per share for 3 years.

The securities will be subject to a hold period of four months plus one day from the date of issue. Closing of the transaction is expected to occur on or about September 22, 2022. The transaction and payment of any finders' fees are subject to the approval of the TSX and other customary closing conditions.