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Silver Elephant Mining to Raise CA$840,000 in Private Placement of Units

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Silver Elephant Mining (ELEF.TO), down 10% in late-afternoon trade, plans to raise CA$840,000 through a private placement of units, the company said on Thursday.

Silver Elephant will issue 7-million units at CA$0.12 apiece. Each unit consists of one share and a three-year warrant to buy a share at CA$0.16.

Proceeds will be used for general working capital purposes.

The company's shares were last seen down CA$0.015 at CA$0.14 on the Toronto Stock Exchange.

Price: $0.14, Change: $-0.02, Percent Change: -12.90%

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