VANCOUVER, June 13, 2018 /PRNewswire/ - Alexco Resource
Corp. (NYSE AMERICAN: AXU, TSX: AXR) ("Alexco" or the
"Company") is pleased to announce that it has closed the
previously announced flow-through bought deal public offering (the
"Offering") with a syndicate of underwriters including Cormark
Securities Inc. and Canaccord Genuity Corp. The Company issued a
total of 4,703,000 flow-through common shares (the "Flow-Through
Shares") at a blended price of C$1.92
per share for gross proceeds C$9,041,150.
The issued securities are comprised of: (i) 966,500 flow-through
shares with respect to "Canadian exploration expenses" priced at
C$2.05 per Flow-Through Share; (ii)
1,736,500 flow-through shares with respect to "Canadian exploration
expenses" that also qualify as "flow-through mining expenditures"
priced at C$2.05 per Flow-Through
Share; and (iii) 2,000,000 flow-through shares with respect to
"Canadian development expenses" priced at C$1.75 per Flow-Through Share.
The gross proceeds from the sale of the Flow-Through Shares will
be used to fund a surface exploration program, continue the
underground drilling program at the Bermingham deposit, and also
continue development of the Flame & Moth decline at the
Company's Keno Hill Silver project,
which qualify as Canadian exploration expenses (within the meaning
of the Income Tax Act (Canada)). The Company will renounce such
Canadian exploration expenses with an effective date of no later
than December 31, 2018.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including in the United
States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any securities laws of any
state of the United States and may
not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons
(as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
About Alexco
Alexco holds the historical high grade
Keno Hill Silver District located in Canada's Yukon
Territory. Employing a unique business model, Alexco also
provides mine-related environmental services, remediation
technologies and reclamation and mine closure services to both
government and industry clients through the Alexco Environmental
Group, its wholly-owned environmental services division.
Some statements ("forward-looking statements") in this news
release contain forward-looking information concerning the Offering
and the use of proceeds thereof, Alexco's anticipated results and
developments in Alexco's operations in future periods, planned
exploration and development of its properties, plans related to its
business and other matters that may occur in the future, made as of
the date of this news release. Forward-looking statements may
include, but are not limited to, statements with respect to the
anticipated use of proceeds, future remediation and reclamation
activities, future mineral exploration, the estimation of mineral
reserves and mineral resources, the realization of mineral reserve
and mineral resource estimates, future mine construction and
development activities, future mine operation and production, the
timing of activities and reports, the amount of estimated revenues
and expenses, the success of exploration activities, permitting
time lines, requirements for additional capital and sources and
uses of funds. Forward-looking statements are subject to a variety
of known and unknown risks, uncertainties and other factors which
could cause actual events or results to differ from those expressed
or implied by the forward-looking statements. Such factors include,
among others, risks related to regulatory approval of the Offering;
actual results and timing of exploration and development
activities; actual results and timing of mining activities; actual
results and timing of environmental services activities; actual
results and timing of remediation and reclamation activities;
conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of silver, gold,
lead, zinc and other commodities; possible variations in mineable
resources, grade or recovery rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; First Nation rights and title;
continued capitalization and commercial viability; global economic
conditions; competition; and delays in obtaining governmental
approvals or financing or in the completion of development
activities. Forward-looking statements are based on certain
assumptions that management believes are reasonable at the time
they are made. In making the forward-looking statements included in
this news release, Alexco has applied several material assumptions,
including, but not limited to, the assumption that Alexco will be
able to raise additional capital as necessary, that the proposed
exploration and development will proceed as planned, and that
market fundamentals will result in sustained silver, gold, lead and
zinc demand and prices. There can be no assurance that
forward-looking statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Alexco expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as otherwise required by applicable securities
legislation.
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SOURCE Alexco Resource Corp.