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  • Silver Elephant Mining Corp. (ELEF) has closed the final tranche of its upsized private placement offering
  • Under the final tranche, the company issued 30,000 units for aggregate gross proceeds of $13,500
  • Proceeds of the offering are expected to be used for exploration, working capital and general corporate purposes
  • Silver Elephant Mining Corp. is a premier silver mining and exploration company
  • Silver Elephant Mining Corp. is up 1.205 per cent, trading at $0.42 at 9:51 AM ET

Silver Elephant Mining Corp. (ELEF) has closed the final tranche of its previously announced, private placement.

Under the final tranche, the company issued 30,000 units for gross proceeds of $13,500.

Each unit consists 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 36 months from closing.

The securities issued as part of the offering will be subject to a four-month hold period.

Proceeds of the offering are expected to be used for exploration, working capital and general corporate purposes.

Silver Elephant Mining Corp. is a premier silver mining and exploration company which owns 100 per cent of Mega Thermal Coal Corp. and 39 per cent of Oracle Commodity Holding Corp. Oracle has equity investments in nickel and vanadium mining companies.

Silver Elephant Mining Corp. is up 1.205 per cent, trading at $0.42 at 9:51 AM ET.


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