Alexco Announces Increase To Previously Announced Bought Deal Unit Financing
Alexco Resource Corp. (TSX:AXR, NYSE‑MKT:AXU) ("Alexco" or the "Company") is pleased to announce that in connection with its previously announced short form prospectus offering (the "Underwritten Offering"), it has entered into an amended agreement with the Underwriter to increase the Underwritten Offering from C$5,002,500 to C$7,015,000. The Company has granted the Underwriter an option (the "Over-Allotment Option" and together with the Underwritten Offering, the "Offering") to purchase additional Units at the Offering price to raise additional gross proceeds of up to 15% of the Underwritten Offering, for a period of 30 days after and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes, if the Over-Allotment Option is fully exercised, the total gross proceeds from the Offering will be C$8,067,250.
The net proceeds from the Offering are expected to be used by the Company for exploration and development of the Company's projects and for general working capital purposes.
Closing of the Offering is anticipated to occur on or around August 21, 2014 (the "Closing Date") and is subject to certain conditions including, but not limited to the receipt of all applicable regulatory approvals including approval of the TSX and the NYSE-MKT.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.