UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2020. |
Commission File
Number 001-33621 |
ALEXCO RESOURCE
CORP.
(Translation
of registrant's name into English)
Suite 1225,
Two Bentall Centre
555 Burrard
Street, Box 216
Vancouver,
BC V7X 1M9 Canada
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED
HEREWITH
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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ALEXCO RESOURCE CORP. |
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(Registrant) |
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By: |
/s/ Mike Clark |
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Date: March 25, 2020 |
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Mike Clark
Chief Financial Officer |
Exhibit 99.1
Alexco Announces $7.5 Million Common Share
Public Offering
VANCOUVER, March 25, 2020 /CNW/ - Alexco
Resource Corp. (NYSE AMERICAN: AXU; TSX: AXU) ("Alexco" or the "Company") is pleased to announce that
further to its previously announced over-night marketed public offering (the "Offering") of common shares of the Company
(the "Common Shares"), it has entered into an underwriting agreement with a syndicate of underwriters co-led by Cormark
Securities Inc. and Cantor Fitzgerald Canada Corporation, and including Canaccord Genuity Corp. (collectively the "Underwriters")
to sell 4,054,500 Common Shares at a price of $1.85 per share (the "Offering Price") for gross proceeds of $7.5
million. The Company has granted to the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or
in part, in the sole discretion of the Underwriters, for a period of 30 days from and including the closing of the Offering, to
purchase up to an additional 608,175 Common Shares ("Option Shares") at the Offering Price. If the Over-Allotment Option
is exercised in full, the total gross proceeds to the Company will be $8.6 million.
The Company shall pay the Underwriters a commission
equal to 6.0% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option,
if any.
The Company intends to use the net proceeds
of the Offering for preservation and measured advancement of mine development activity at Keno Hill, exploration and for general
working capital purposes.
The Offering will be made by way of a prospectus
supplement (the "Prospectus Supplement") to the Company's existing Canadian base shelf prospectus (the "Base Shelf
Prospectus") and related U.S. registration statement on Form F-10 (SEC File No. 333-227024) (the "Registration Statement").
The U.S. form of Base Shelf Prospectus is included in the Registration Statement. The Prospectus Supplement has been filed with
the securities commissions in each of the provinces of British Columbia, Alberta, Ontario, Saskatchewan and Manitoba and the United
States Securities and Exchange Commission (the "SEC"). The Canadian Prospectus Supplement (together with the related
Canadian Base Shelf Prospectus) is available on SEDAR at www.sedar.com. The United States Prospectus Supplement (together with
U.S. Base Shelf Prospectus and the Registration Statement) will be available on the SEC's website at www.sec.gov. Alternatively,
the Canadian Prospectus Supplement (together with the related Canadian Base Shelf Prospectus) and the United States Prospectus
Supplement (together with the related United States Base Shelf Prospectus and the Registration Statement) may be obtained upon
request by contacting the Company or Cormark Securities Inc. Royal Bank Plaza, North Tower, Suite 1800, Bay Street, Toronto, Ontario
M5J 2J2.
Closing is expected on or about March 27, 2020
and is subject to regulatory approval including that of the Toronto Stock Exchange and NYSE American.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of
any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has
any such authority passed upon by the accuracy or adequacy of the Prospectus Supplements, the Base Shelf Prospectuses or the Registration
Statement.
About Alexco
Alexco is a Canadian primary silver company
that owns the majority of the historic high-grade Keno Hill Silver District (the "District") in Canada's Yukon Territory.
Alexco has a long history of expanding Keno Hill's mineral resources through successful exploration and is currently advancing
a development plan for the District. Alexco is in the final phase of the permitting process and is currently advancing key surface
infrastructure while it awaits the final permit to make a positive construction decision.
Some statements ("forward-looking statements")
in this news release contain forward-looking information concerning the Offering and the use of proceeds thereof, plans related
to Alexco's 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 proposed Offering, anticipated closing of the Offering,
potential exercise by the Underwriters of their option to acquire Option Shares, and anticipated use of proceeds. 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; risks and uncertainties relating to the outbreak of COVID-19 including but not
limited to business closures, quarantines and a general reduction in consumer activity; actual results and timing of exploration
and development, mining, environmental services and remediation and reclamation activities; future prices of silver, gold,
lead, zinc and other commodities; possible variations in mineral 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 regulatory
approval of the Offering will be obtained in a timely manner; all conditions precedent to completion of the Offering will be fulfilled
in a timely manner; Alexco will be able to raise additional capital as necessary, that the proposed exploration and development
activities 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.
View original content:http://www.prnewswire.com/news-releases/alexco-announces-7-5-million-common-share-public-offering-301029715.html
SOURCE Alexco Resource Corp.
View original content: http://www.newswire.ca/en/releases/archive/March2020/25/c5308.html
%CIK: 0001364128
For further information: Clynton R. Nauman, Executive Chairman
and Chief Executive Officer; Kettina Cordero, Director of Investor Relations, Phone: (778) 945-6577, Email: info@alexcoresource.com
CO: Alexco Resource Corp.
CNW 10:08e 25-MAR-20
This regulatory filing also includes additional resources:
ex991.pdf
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