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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.