Silver Elephant Mining (TSE:ELEF) has released an update.
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Silver Elephant Mining Corp. has successfully completed the initial tranche of its private placement, securing $1,111,584 in funds through the sale of over 2.3 million units at $0.48 each. The proceeds are earmarked for the commencement of phase one sulphide operations at the company’s Paca silver project in Bolivia and for general corporate expenses. Each unit sold includes one common share and a purchase warrant, allowing the acquisition of additional shares at $0.70 over the next three years.
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