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 April 2019. |
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: April 1, 2019 |
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Mike Clark
Chief Financial Officer |
Exhibit 99.1
Alexco Announces C$3.5 Million Flow-Through
Equity Financing
VANCOUVER, April 1, 2019 /CNW/ - Alexco
Resource Corp. (NYSE AMERICAN: AXU, TSX: AXR) ("Alexco" or the "Company") is pleased to announce that
it has entered into an agreement with an underwriter (the "Underwriter"), pursuant to which the Underwriter has agreed
to purchase, on a bought deal private placement basis, 1,842,200 flow-through common shares (the "Flow-Through Shares")
at an issue price of C$1.90 per share for aggregate gross proceeds of C$3,500,180 (the "Offering").
The offered securities are comprised of: (i)
1,579,000 flow-through shares with respect to "Canadian exploration expenses" (the "CEE Shares") priced at
C$1.90 per CEE Share; and (ii) 263,200 flow-through shares with respect to "Canadian development expenses" (the "CDE
Shares") priced at C$1.90 per CDE Share.
The Underwriter will have an option, exercisable
in whole or in part at any time up to two (2) business days prior to the Closing Date (as defined below), to purchase up to an
additional 15% of each of the CEE Shares and the CDE Shares, respectively (the "Underwriter's Option Shares" and, together
with the Flow-Through Shares, the "Offered Shares"), on the same terms and conditions as set forth herein.
The gross proceeds received from the sale of
the CEE Shares will be used solely to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income
Tax Act (Canada) on the Company's directly and indirectly held mineral properties at Keno Hill Silver District Project in the
Yukon Territory, and renounced to subscribers effective December 31, 2019. Such Canadian exploration expenses will also qualify
as "flow-through mining expenditures" as defined in subsection 127(9) of the Income Tax Act (Canada).
The gross proceeds received from the sale of
the CDE Shares will be used solely to incur "Canadian development expenses" as defined in the Income Tax Act (Canada)
on the Company's directly and indirectly held mineral properties at Keno Hill Silver District Project in the Yukon Territory, and
renounced to subscribers effective December 31, 2019.
The Company shall pay the Underwriter a commission
equal to 6.0% of the gross proceeds of the Offering plus issue non-transferable broker warrants in an amount equal to 3.0% of the
number of Offered Shares sold in the Offering (the "Broker Warrants"). Each Broker Warrant shall entitle the Underwriter
to purchase one common share of the Company at an exercise price of C$1.70 for 12 months from the Closing Date (as defined below).
The closing of the Offering is expected on
or about April 23, 2019 (the "Closing Date") and is subject to regulatory approval including that of the Toronto Stock
Exchange and NYSE American LLC. The Offered Shares will be subject to statutory hold period(s) in accordance with applicable securities
legislation.
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 owns the majority of the historic high-grade
Keno Hill Silver District in Canada's Yukon Territory. 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
Cautionary Statement Regarding Forward-Looking
Statements
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 Underwriter of its option to acquire Underwriter's 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; 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-c3-5-million-flow-through-equity-financing-300821692.html
SOURCE Alexco Resource Corp.
View original content: http://www.newswire.ca/en/releases/archive/April2019/01/c5655.html
%CIK: 0001364128
For further information: Clynton R. Nauman, Executive Chairman
and Chief Executive Officer; Kettina Cordero, Director of Investor Relations, Phone: (778) 945-6555, Email: info@alexcoresource.com
CO: Alexco Resource Corp.
CNW 08:15e 01-APR-19
This regulatory filing also includes additional resources:
ex991.pdf
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