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Silver Elephant Mining Corp. — Capital/Financing Update 2025
Jan 27, 2025
43875_rns_2025-01-27_6231f860-b30b-4a63-b776-2263a3bc75ae.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
January 27, 2025
Item 3. News Release
A news release was issued and disseminated through the services of Newsfile Corp. on January 27, 2025 and subsequently filed on SEDAR+.
Item 4. Summary of Material Change
On January 27, 2025, the Company announced that, further to its news release dated January 16, 2025, it has increased the size of the private placement (the “Private Placement”) to 2,800,000 units (the “Units”) for aggregate gross proceeds of $420,000 at a price of $0.15 per Unit.
The Company further announces that it has closed the first tranche of the Private Placement raising gross proceeds of $330,000 through the sale of 2,200,000 Units.
The Company paid a finder’s fee to Canaccord Genuity Corp. in connection with the first tranche of the Private Placement by way of issuance of 119,000 Units.
Item 5. Full Description of Material Change
On January 27, 2025, the Company announced that, further to its news release dated January 16, 2025, it has increased the size of the private placement (the “Private Placement”) to 2,800,000 units (the “Units”) for aggregate gross proceeds of $420,000 at a price of $0.15 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 $0.30 per Share for a period of three years from issuance.
The Company further announces that it has closed the first tranche of the Private Placement raising gross proceeds of $330,000 through the sale of 2,200,000 Units.
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 the first tranche of the Private Placement by way of issuance of 119,000 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
January 27, 2025