Alexco Resource Corp. (NYSE AMERICAN: AXU) (TSX: AXR) is pleased to announce that it has closed the previously announced bought deal equity financing led by Cantor Fitzgerald Canada Corporation as sole bookrunner and sole underwriter. The Company has issued 6,500,000 common shares at a price of US$1.00 for gross proceeds of US$6,500,000.

The Company paid the Underwriter a commission equal to 7.0% of the gross proceeds of the Offering, plus issued non-transferable common share purchase warrants in an amount equal to 4.0% of the number of Offered Shares sold in the Offering. Each Underwriter Warrant shall entitle the Underwriter to purchase one common share of the Company at an exercise price of US$1.00 for 12 months from the Closing Date. 

The Company intends to use the net proceeds of the offering to fund continuing development of the Keno Hill Silver Project and for general corporate and working capital purposes.

The Offering was completed by way of a prospectus supplement  to the Company’s existing Canadian base shelf prospectus and related U.S. base shelf prospectus included in the Company’s registration statement on Form F-10 (SEC File No. 333-227024) filed under the Canada/U.S. multi-jurisdictional disclosure system.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The securities have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the Prospectus Supplement, the Base Shelf Prospectus or the Registration Statement.

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.