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Silver Elephant Mining Corp. — Capital/Financing Update 2024
Oct 22, 2024
43875_rns_2024-10-22_0c543632-e367-4fdd-9717-7636c6ea0017.pdf
Capital/Financing Update
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FORM 51-102F3 MATERIAL CHANGE REPORT
Item 1. Name and Address of Company Silver Elephant Mining Corp. (the “ Company ”) Suite 1610 – 409 Granville Street Vancouver, BC V6C 1T2
Item 2. Date of Material Change
October 18, 2024
Item 3. News Release
A news release was issued and disseminated through the services of Newsfile Corp. on October 18, 2024 and subsequently filed on SEDAR+.
Item 4. Summary of Material Change
On October 18, 2024, the Company announced that, further to its news release dated October 7, 2024, it has closed the first tranche of its non-brokered private placement (the “Private Placement”) raising gross proceeds of $198,450 through the sale of 405,000 units (the “Units”) at a price of $0.49 per unit.
Item 5. Full Description of Material Change
On October 18, 2024, the Company announced that, further to its news release dated October 7, 2024, it has closed the first tranche of its non-brokered private placement (the “Private Placement”) raising gross proceeds of $198,450 through the sale of 405,000 units (the “Units”) at a price of $0.49 per unit.
Each unit consists of one common share of the Company (“Share”) and one share purchase warrant with each warrant (the “Warrant”) entitling the holder to purchase one additional Share at a price of $0.55 per Share for a period of three years from issuance.
The securities issued as part of the Private Placement will be subject to a regulatory hold period of four months plus one day from the date of issue.
Proceeds of the Private Placement are expected to be used for general corporate purposes.
The Company paid a finder’s fee to Canaccord Genuity Corp. in connection with a portion of the Private Placement by way of issuance of 4,900 Units.
Item 6.
Reliance on Subsection 7.1(2) of National Instrument 51-102
Not applicable
Item 7. Omitted Information
Not applicable
Item 8. Executive Officer
John Lee Chief Executive Officer Telephone: 1.877.664.2535
Item 9. Date of Report October 22, 2024