Silver Elephant Mining Corp. has initiated a non-brokered private placement aiming to raise gross proceeds of $840,000 through the sale of 7,000,000 units priced at $0.12 each.

Under the terms of the financing, each unit comprises one common share and one share purchase warrant. Each warrant allows the holder to acquire an additional common share at $0.16 for a three-year term from issuance. Finder's fees of up to 7% in units are payable under the same terms.

Company insiders plan to subscribe for up to 2,000,000 units, representing $240,000 of the total raise. Because this insider participation constitutes a related party transaction under Multilateral Instrument 61-101, Silver Elephant intends to rely on exemptions from formal valuation and minority shareholder approval requirements. These exemptions apply because neither the market value of the securities issued to insiders nor the consideration paid will exceed 25% of the company's market capitalization.

All securities issued under the offering will carry a four-month and one-day regulatory hold period from their issue date. Silver Elephant intends to allocate the net proceeds primarily toward general working capital purposes. The arrangement remains conditional upon receiving formal approval from the Toronto Stock Exchange.

The financing supports the company's broader operational footprint, which includes the Robinson-Lasher zinc-germanium-gallium project in Kentucky. Silver Elephant acquired the project through an asset purchase agreement with CleanTech Vanadium Mining Corp. dated June 11, 2026, comprising 6,300,000 common shares and US$1,255,000 in cash consideration. The asset sits near the proposed US$7.4 billion Korea Zinc smelter in Tennessee, which is projected to enter operation in 2029 and is designed to source concentrate from the project.

Read the full announcement: Silver Elephant Announces $840,000 Non-Brokered Private Placement