Silver Elephant Sells Oracle Stake, Plans $200K Private Placement

Silver Elephant Mining Corp. has sold 4,000,000 shares of Oracle Commodity Holding Corp. on the TSX Venture Exchange, reducing its stake but retaining significant ownership. The company is also conducting a non-brokered private placement to raise $200,000 by issuing 1,000,000 units, each unit comprising one common share and one warrant exercisable at $0.30 for three years, with insiders expected to subscribe for up to $80,000 worth of units. The proceeds from these transactions are intended for general corporate purposes. The private placement is subject to Toronto Stock Exchange approval and includes a regulatory hold period of four months plus one day. Despite these efforts, Silver Elephant faces financial challenges such as zero revenue and mounting losses, with analysts rating the stock as underperform and highlighting a longer-term bearish trend. Insider participation in the private placement signals some confidence in the company's prospects, although the stock remains high risk with limited immediate upside.