Company sells two types of stock at C$0.53, C$0.48 to fund exploration
By Susanna Moon
Chicago, Dec. 8 – Alexco Resource Corp. said underwriter Canaccord Genuity Corp. fully exercised the C$1 million greenshoe on Alexco’s private placement of stock, bringing the total deal size to C$4 million. The company also raised C$960,000 on a non-brokered basis. The deal was announced Nov. 19.
In the brokered deal, the company sold 5,662,500 flow-through common shares at a price of C$0.53 per share for proceeds C$3,001,125.
As announced before, the price per share is a 12.77% premium to C$0.47, the Nov. 18 closing share price.
The company also sold 2 million common shares at C$0.48 per share, which is a 2.13% premium to the Nov. 18 closing price. This offering is non-brokered and raised proceeds of C$960,000, as planned.
Proceeds will be used for exploration and general working capital.
Alexco is a Vancouver, B.C.-based silver miner operating in Canada’s Yukon Territory.
| Issuer: | Alexco Resource Corp.
|
| Issue: | Flow-through common stock, common stock
|
| Amount: | C$3,961,125
|
| Warrants: | No
|
| Pricing date: | Nov. 19
|
| Stock symbol: | Toronto: AXR
|
| Stock price: | C$0.47 at close Nov. 18
|
| Market capitalization: | C$33.09 million
|
|
|
| Flow-through stock
|
| Amount: | C$3,001,125, including greenshoe exercise for C$1,000,375
|
| Shares: | 5,662,500
|
| Price: | C$0.53
|
| Underwriter: | Canaccord Genuity Corp.
|
|
|
| Common stock
|
| Amount: | C$960,000
|
| Shares: | 2 million
|
| Price: | C$0.48
|
| Agent: | Non-brokered
|
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