Silver Elephant Mining receives shareholder approval of plan of arrangement


VANCOUVER, BC / ACCESSWIRE / December 23, 2021 / Silver Elephant Mining Corp. (“Silver Elephant”, or the “Society”) (TSX: ELEF) (OTCQX: SILEF) (FSE: 1P2N) is pleased to announce that all of the proposed resolutions were approved at the extraordinary general meeting of shareholders of the Company held on December 22, 2021 (the “ Assembly “). The results of the vote were as follows:



Votes in favor

Votes against

Abstention or
Not voted

1. Approval of a special resolution relating to an arrangement under section 288 of the Business Corporations Act (British Columbia), as more particularly set out in the management information circular for the meeting (the “Circular “)

29,999,276 (99.44%)

168,752 (0.56%)


2. Approval of an ordinary resolution approving the incentive plan of SpinCo 1, as more particularly set out in the Circular.

29,423,670 (97.53%)

744,358 (2.47%)



Approval of an ordinary resolution approving the incentive plan of SpinCo 2, as more particularly set out in the Circular.

29,694,747 (98.43%)

473,281 (1.57%)



Approval of an ordinary resolution approving the incentive plan of SpinCo 3, as more particularly set out in the Circular.

29,417,669 (97.51%)

750,359 (2.49%)



Approval of an ordinary resolution of disinterested shareholders approving the SpinCo 1 Financing, as more particularly set out in the Circular (2)

24,973,370 (82.78%)

461,858 (1.53%)

4,732,800 (15.69%)


(1) A total of 150 shareholders were present in person or by proxy representing 30,168,028 shares at the Meeting.
(2) A total of 4,732,800 ordinary shares held by interested shareholders were excluded from the vote on the resolution.

On January 11, 2022, the Company will seek a final order from the Supreme Court of British Columbia approving the plan of arrangement, with the registration date to be set immediately after court approval in mid-January (the “ Registration Date “). .

Each Silver Elephant share outstanding on the Record Date will be consolidated on the basis of one post-consolidation ordinary share (“ELEF Share”) for ten pre-consolidation shares of Silver Elephant.

Each Silver Elephant shareholder will receive: one share from each of Flying Nickel Mining Corp. (Spinco 1) and Nevada Vanadium Mining Corp. (Spinco 2), and two shares of Battery Metals Royalties Corp. (Spinco 3) for each post-consolidation ELEF Share held by this shareholder on the Record Date.

Shareholders should consult the Company’s Management Information Circular and Letter of Transmittal available at and at for further information on the plan of arrangement.

About Silver Elephant Mining Corp.

Silver Elephant Mining Corp. is a leading silver, nickel and vanadium mining and exploration company.

More information on Silver Elephant is available at

“John Lee”
Executive chairman

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

+1.604.569.3661 ext. 101
This e-mail address is protected from spam. You need JavaScript enabled to view it.

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 are reasonable, but no assurance can be given that these 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.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.


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