VANCOUVER, Aug. 24, 2018 /CNW/ - Alexco Resource Corp.
(NYSE American:AXU) (TSX:AXR) ("Alexco" or the "Company")
announced today that it has filed a preliminary short form base
shelf prospectus with the securities commissions in each of the
Provinces of British Columbia,
Alberta, Saskatchewan, Manitoba and Ontario and a corresponding amendment to its
registration statement on Form F-10 (Registration Statement) with
the United States Securities and Exchange Commission (SEC) under
the U.S./Canada Multijurisdictional Disclosure System to replace
the Company's short form base shelf prospectus dated July 29, 2016, which will cease to be effective
as of August 29, 2018.
The shelf prospectus filings, when final, will allow Alexco to
make offerings of common shares, warrants, subscription receipts
and/or units up to an aggregate total of Cdn$50 million during the 25-month period that
the final short form base shelf prospectus remains effective. Such
securities may be offered in amounts, at prices and on terms to be
determined based on market conditions at the time of sale and set
forth in one or more shelf prospectus supplement(s) and, subject to
applicable regulations, may include at-the-market transactions,
private placements, public offerings or strategic investments.
Information regarding the use of proceeds from a sale of such
securities will be included in the applicable prospectus
supplement.
The Registration Statement has been filed with the SEC, but has
not yet become effective. Securities may not be sold nor may offers
to buy be accepted prior to the time the Registration Statement
becomes effective. After the Registration Statement becomes
effective, a copy of the Registration Statement and a copy of the
preliminary short form base shelf prospectus, and copies of the
final short form base shelf prospectus and any shelf prospectus
supplements that may be filed in the future, can be found on SEDAR
at www.sedar.com and on EDGAR at www.sec.gov or may be
obtained by request to the Corporate Secretary of Alexco at Suite
1225, Two Bentall Centre, 555 Burrard Street, Box 216, Vancouver, British Columbia, V7X 1M9,
Telephone (604) 633-4888.
If any securities are offered under the Prospectus or
Registration Statement, the terms of any such securities and the
intended use of the net proceeds resulting from such offering would
be established at the time of any offering and would be described
in a prospectus supplement filed with the applicable Canadian
securities regulatory authorities and the SEC at the time of such
an offering and would be made available by Alexco at the above
address.
About Alexco
Alexco Resource Corp. owns the high-grade Keno Hill Silver
District in Canada's Yukon Territory. Alexco published an updated
Preliminary Economic Assessment in March
2017, which anticipates the sequential development of four
high grade silver deposits over an eight year mine life producing
more than one million tonnes with an average grade of 843 grams per
tonne silver, 3.3% lead and 4.6% zinc. Silver production is
anticipated to be approximately 3.5 million ounces per year.
Alexco also operates a wholly-owned subsidiary business, Alexco
Environmental Group, that provides mine-related environmental
services, remediation technologies and reclamation and mine closure
services to both government and industry clients in North America and elsewhere.
Please visit the Alexco website at www.alexcoresource.com
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.
Neither the Toronto Stock Exchange nor its Regulation
Services Provider accepts responsibility for the adequacy or
accuracy of this release.
Certain statements ("forward-looking statements") in this
news release contain forward-looking information concerning any
shelf prospectus supplements that may be filed, 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 preliminary
short form base shelf prospectus, the final short form base shelf
prospectus, any shelf prospectus supplements and any related shelf
prospectus filings. 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 shelf prospectus supplement filings; risks related to
Alexco's ability to raise additional capital; 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, the Company has applied several material
assumptions, including, but not limited to, the assumption that
regulatory approval of the any shelf prospectus filings and related
offerings will be obtained in a timely fashion, that the Company
will be able to raise additional capital 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. The Company 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.
View original
content:http://www.prnewswire.com/news-releases/alexco-files-preliminary-shelf-prospectus-and-registration-statement-to-renew-existing-shelf-prospectus-300702255.html
SOURCE Alexco Resource Corp.