VANCOUVER, Aug. 28, 2014 /PRNewswire/ - Alexco
Resource Corp. (TSX:AXR, NYSE‑MKT:AXU) ("Alexco" or the
"Company") is pleased to announce that the underwriter has
completed the exercise of its over-allotment option. The
underwriter purchased an additional 915,000 units of the Company
("Additional Units") at a price of C$1.15 per Additional Unit for gross proceeds of
C$1,052,250 under the Company's short
form prospectus dated August 15,
2014.
Each Additional Unit consists of one common share of the Company
and one half of one common share purchase warrant (each whole
common share purchase warrant, a "Warrant"). Each
Warrant is exercisable to purchase one common share of the Company
at an exercise price of C$1.40 on or
before August 21, 2016.
The underwriter received a cash fee equal to 6.5% of the gross
proceeds from the offering and 59,475 compensation warrants
("Compensation Warrants"), with each Compensation Warrant
exercisable for one common share of the Company at an exercise
price of C$1.35 on or before
August 21, 2016.
Aggregate gross proceeds raised from the base offering of
6,100,000 units completed on August 21,
2014 and the over-allotment option total C$8,067,250.
About Alexco
Alexco Resource Corp. owns the Bellekeno silver mine, one of
several mineral properties held by Alexco which encompass
substantially all of the historical 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.
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District was a
world-class silver producer, with more than 217 million ounces of
silver produced at average grades of 40.5 ounces per ton silver,
5.6% lead and 3.1% zinc (Yukon Government's Minfile
database). These historical production grades would rank
Keno Hill in the top 3% by grade of
today's global silver producers.
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.
Some statements ("forward-looking statements") in this news
release contain forward-looking information concerning the
Company's planned exploration and development activities of
its properties, and future mine operation and production.
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 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 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.
SOURCE Alexco Resource Corp.