Wednesday, Alexco Resource Corp. (AXR.TO,AXU) signed an underwriting agreement with Canaccord Financial Ltd. and Cormark Securities Inc. to sell 7.35 million common shares in the Company at a price of C$3.50 per Common Share. The company will raise gross proceeds of C$25.73 million pursuant to a short form prospectus under the multi-jurisdictional disclosure system.
In addition, the Company has granted the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 30 days from the closing of the Offering.
Alexco intends to use the net proceeds of the Offering at the Bellekeno mine which it's currently developing, for construction backstop finance to mitigate capital cost overrun risk and for the mine's initial working capital finance, and to further explore and develop the Company's other properties located in the Keno Hill silver district in Canada's Yukon Territory.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.