Company sells two types of stock at C$0.53, C$0.48 to fund exploration
By Devika Patel
Knoxville, Tenn., Nov. 19 – Alexco Resource Corp. said it will conduct a C$2 million private placement of stock with a C$1 million greenshoe via underwriter Canaccord Genuity Corp. It also will raise C$960,000 on a non-brokered basis.
In the brokered sale, the company will sell 3,775,000 flow-through common shares at C$0.53 per share on a bought-deal basis. The price per share is a 12.77% premium to C$0.47, the Nov. 18 closing share price.
The company also plans to sell 2 million common shares at C$0.48 per share, which is a 2.13% premium to the Nov. 18 closing price. This offering will be non-brokered.
Proceeds will be used for exploration and general working capital.
Spartan is an oil and gas exploration company based in Calgary, Alta.
| Issuer: | Alexco Resource Corp.
|
| Issue: | Flow-through common stock, common stock
|
| Amount: | C$2,960,750
|
| 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$2,000,750
|
| Greenshoe: | C$1,000,375
|
| Shares: | 3,775,000
|
| Price: | C$0.53
|
| Underwriters: | Canaccord Genuity Corp.
|
|
|
| Common stock
|
| Amount: | C$960,000
|
| Shares: | 2 million
|
| Price: | C$0.48
|
| Agent: | Non-brokered
|
|
|
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