VANCOUVER, Sept. 21, 2018 /CNW/ - Alexco Resource
Corp. (NYSE American:AXU) (TSX:AXR) ("Alexco" or the "Company")
announced today that it has filed a final 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 which
replaces the Company's short form prospectus dated July 29, 2016, which ceased to be effective
August 29, 2018.
The shelf prospectus filings 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.
Copies of the Registration Statement, preliminary short form
base shelf prospectus and final short form base shelf prospectus,
as well as 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.
Filing of Amended Technical Report and Annual Information
Form
In connection with the shelf prospectus filings, the Company has
also filed the independent technical report dated March 29, 2017 with an effective date of
January 3, 2017, as amended
September 14, 2018, prepared by Roscoe Postle Associates
Inc. entitled "Technical Report, Preliminary Economic Assessment of
the Keno Hill Silver District Project, Yukon Territory, Canada" (the "PEA") and an
amended and restated annual information form for the year ended
December 31, 2017 (the "AIF") along
with an amended annual report on Form 40-F for the year ended
December 31, 2017 (the "Form 4-F").
Amendments to the PEA include changes made to (a) update
certain terms to reflect the amended standards under the current
CIM 2014 Definition Standards; (b) revise certain portions of the
PEA to report mineral resources in defined categories pursuant to
National Instrument 43-101; and (c) insert requisite cautionary
language relating to the preliminary economic assessment and the
increased risks associated with production decisions.
Amendments to the AIF and Form 40-F include revising technical
terms to reflect the current CIM 2014 Definition Standards and
updating the technical disclosure therein to reflect the amended
PEA.
These documents can be found on SEDAR at www.sedar.com and
on EDGAR at www.sec.gov and may also 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.
About Alexco
Alexco owns the majority of the historic high-grade Keno Hill
Silver District in Canada's
Yukon Territory as detailed in the
PEA and 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. The PEA is
preliminary in nature and includes inferred mineral resources that
are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
PEA will be realized. Mineral resources that are not mineral
reserves do not have demonstrated economic viability.
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 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-final-shelf-prospectus-and-registration-statement-to-renew-previous-shelf-prospectus-300717105.html
SOURCE Alexco Resource Corp.