Silver Elephant receives final court approval and sets January 14 as the effective date of the plan of arrangement

VANCOUVER, BC / ACCESSWIRE / January 12, 2022 / Silver Elephant Mining Corp. (“Silver Elephant” or the “Company”) (TSX: ELEF) (OTCQX: SILEF) (Frankfurt: 1P2N) announces that it has received final approval from the Supreme Court of British Columbia (the “To research“) for its previously announced plan of arrangement (the”ArrangementThe receipt of the Court’s approval follows the near unanimous approval of the Arrangement by the shareholders of the Company at the special meeting held on December 22, 2021 (the “Meeting“). The effective date of the Arrangement is January 14, 2022 (the”Effective date“).

Pursuant to the Arrangement, the common shares of the Company will be consolidated on a 10: 1 basis (the “”Consolidation“) and each holder of common shares of the Company will receive in exchange for 10 common shares held before the Combination: (i) one common share of the Company after the Combination; (ii) one common share of Flying Nickel Mining Corp. ( “Flying nickel“); (iii) one common share of Nevada Vanadium Mining Corp. (“Nevada Vanadium“); and (iv) two common shares of Battery Metals Royalties Corp. (“Battery metals“).

After the arrangement, each company will start its corresponding main activity with the following:

  1. Silver Elephant, holding a 100% stake in the Pulacayo and El Triunfo silver and silver projects in Bolivia, and a minority stake in Battery Metals as a long-term investment;

  2. Nevada Vanadium, a new Canadian reporting issuer, owning a 100% interest in the Gibellini vanadium project in Nevada;

  3. Flying Nickel, a new Canadian reporting issuer, with a 100% interest in the Minago nickel project in the Thompson nickel belt in Manitoba; and

  4. Battery Metals, a new Canadian reporting issuer, holding a 2% royalty on each of the above assets, and minority interests in Flying Nickel and Nevada Vanadium as long-term investments.

In order to receive common shares of the Company after the Consolidation and common shares of each of Flying Nickel, Nevada Vanadium and Battery Royalties, registered shareholders must complete the Letter of Transmittal (which can be completed after the date of entry into force. force) prepared under the Arrangement, copies of which are available at www.sedar.com, www.silverelef.com or by contacting the Company. Beneficial shareholders do not need to complete a cover letter and should contact their broker or intermediary with any questions.

Currently, the Toronto Stock Exchange (“TSX “) issue its final trading bulletin in respect of the Arrangement as soon as practicable from the Effective Date. Trading in the Common Shares of the Company will commence after the Arrangement and after the Combination at the opening of the market on a date that is two trading days after the issuance of the TSX Bulletin. Currently, this is expected to occur on Tuesday, January 18, 2022 or at a later date to be determined by the TSX. The Company will issue a new press release to confirm this date.

For further information regarding the Arrangement, readers should refer to the Company’s management information circular prepared in connection with the Meeting, a copy of which is available at www.sedar.com and silverelef.com. Further information on Silver Elephant, Flying Nickel, Nevada Vanadium and Battery Metals is available at www.silverelef.com, flynickel.com, nevadavanadium.com and royalbatt.com, respectively.

SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD

“John Lee”
Executive chairman

For more information on Silver Elephant, please contact Investor Relations:

+1.604.569.3661 ext. 101
[email protected] www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution regarding forward-looking statements

Certain statements contained in this press release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “believes” or similar expressions, and statements relating to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. These forward-looking statements, which reflect management’s expectations regarding Silver Elephant’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known risks and uncertainties. and unknowns that may cause actual results, performance, or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements of Silver Elephant. Silver Elephant believes that the expectations reflected in the forward-looking statements contained in this press release and the documents incorporated by reference herein are reasonable, but no assurance can be given that such expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify material factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that may cause so that actions, events or results are not as expected, estimated or expected. Silver Elephant does not undertake to publicly disclose any future revision of forward-looking statements to reflect events or circumstances after the date of such news or to reflect the occurrence of unforeseen events, except as expressly required by law.

None of the securities to be issued under the Flying Nickel Offer has been or will be registered under the United States Securities Act of 1933, as amended (the “US Securities Act“), or any state securities law, and all securities that may be issued in connection with the transaction should be issued on the basis of available exemptions from these registration requirements in accordance with Section 3 (a ) (10) of the US Securities Act and applicable state exemptions This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

THE SOURCE: Silver Elephant Mining Corp.

See the source version on accesswire.com:
https://www.accesswire.com/683146/Silver-Elephant-Receives-Final-Court-Approval-Sets-January-14-as-Effective-Date-for-Plan-of-Arrangement

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