AMENDMENT TO UNDERWRITING AGREEMENT
Exhibit 99.1
AMENDMENT
TO UNDERWRITING AGREEMENT
This
amending agreement (this “Amendment”) is entered into as of
November 17, 2020.
Reference is made
to the underwriting agreement dated effective October 26, 2020 (the
“Underwriting
Agreement”) between Mackie Research Capital
Corporation, Canaccord Genuity Corp. and Sprott Capital Partners LP
(collectively, the “Underwriters”) and Silver Elephant
Mining Corp. (the “Corporation”) pertaining to the
offering of up to 20,000,000 common shares of the Corporation at a
price of $0.40 per common share. Capitalized terms used herein but
not otherwise defined shall have the meanings ascribed thereto in
the Underwriting Agreement.
The
Underwriters and the Corporation hereby amend the definitions of
“Closing Date”, “Final Prospectus Date” and
“Latest Closing Date” in the Underwriting Agreement as
follows:
“Closing Date” means the fifth
Business Day following the day on which the receipt is issued for
the Final Prospectus, or such earlier or later date as the
Underwriters may designate for the closing of the Offering,
provided that in no event (unless otherwise agreed to be the
Corporation) shall such date be later than the Latest Closing
Date;
“Final Prospectus Date” means the
date on which the Final Prospectus is filed, which shall be no
later than November 17, 2020 or such other date as the Corporation
and the Underwriters may determine;
“Latest Closing Date” means the
tenth Business Day after the day on which the receipt is issued for
the Final Prospectus;
Except
as provided above, the Underwriting Agreement remains unamended and
in full force and effect in accordance with its terms.
This
Amendment may be executed in any number of counterparts and by
facsimile or electronic copy, and each of such counterparts and
facsimile or electronic copy shall for all purposes be deemed to be
an original, and all such counterparts shall together constitute
one and the same instrument.
[Signature Page Follows]
IN
WITNESS WHEREOF this Amendment has been executed by the parties as
of the date first above written.
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Per: |
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(Signed) "▇▇▇▇ ▇▇▇" |
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Name: ▇▇▇▇
▇▇▇
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Title:
Executive Chairman
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MACKIE
RESEARCH CAPITAL CORPORATION
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(Signed) "▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇" |
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Name:
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇
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Title:
Managing Director, Investment Banking
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CANACCORD
GENUITY CORP.
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(Signed) "▇▇▇▇▇ ▇▇▇▇▇▇▇▇" |
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Name: ▇▇▇▇▇
▇▇▇▇▇▇▇▇
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Title:
Director, Investment Banking
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SPROTT
CAPITAL PARTNERS LP, by its general partner, SPROTT CAPITAL
PARTNERS GP INC.
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(Signed) "▇▇▇▇▇ ▇▇▇▇▇" |
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Name: ▇▇▇▇▇
▇▇▇▇
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Title:
Managing Director and Head of Investment Banking
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[Signature Page to the Amendment to Underwriting
Agreement]