By Sheri Kasprzak
New York, Dec. 8 - Alexco Resource Corp. priced a C$15,000,475 private placement of units and flow-through shares. The company also intends to conduct a non-brokered deal for up to C$2 million.
The offering includes up to 1,684,300 units at C$4.75 each and 1,217,400 flow-through shares at C$5.75 each.
The units are comprised of one share and one half-share warrant with each whole warrant exercisable at C$5.75 each for three years.
Underwriter Canaccord Capital Corp. has a greenshoe for up to C$3 million with a maximum of C$1 million from flow-through shares.
In that offering, NovaGold Resources Inc. will also buy units on a non-brokered basis to maintain its ownership of Alexco.
Separately, Alexco plans to conduct a C$2 million non-brokered offering of either units or flow-through shares under the same terms as the brokered deal.
The two offerings are expected to close Dec. 28.
Proceeds will be used for exploration on the company's mineral properties.
Vancouver, B.C.-based Alexco is a mineral exploration and development company.
C$15 million offering
| Issuer: | Alexco Resource Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$15,000,475
|
| Greenshoe: | For C$3 million
|
| Underwriter: | Canaccord Capital Corp.
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 28
|
| Stock symbol: | Toronto: AXR
|
| Stock price: | C$4.94 at close Dec. 7
|
|
|
| Flow-through shares
|
| Shares: | 1,217,400
|
| Price: | C$5.75
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 1,684,300
|
| Price: | C$4.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$5.75
|
|
|
| C$2 million offering
|
| Issuer: | Alexco Resource Corp.
|
| Issue: | Units or flow-through shares
|
| Amount: | C$2 million (maximum)
|
| Price: | C$5.75 for flow-through shares; C$4.75 for units
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$5.75
|
| Placement agent: | Non-brokered
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 28
|
| Stock symbol: | Toronto: AXR
|
| Stock price: | C$4.94 at close Dec. 7
|
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