On January 28, 2021, Alexco Resource Corp. (NYSE American:AXU; TSX:AXU) (“Alexco”) closed its flow-through bought deal public offering (the “Offering”) co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation as joint bookrunners, and including R.F. Lafferty & Co. Inc. and A.G.P./Alliance Global Partners (collectively the “Underwriters”). With full exercise of the Underwriters’ over-allotment option, the Company has issued a total of 2,704,770 “flow-through” common shares (the “Flow-Through Shares”) for gross proceeds of $11,700,666.
The Flow-Through Shares are comprised of (i) 2,053,670 shares issued as “flow-through shares” with respect to “Canadian exploration expenses” (the “CEE Shares”) within the meaning of the Income Tax Act (Canada) (the “Tax Act”) at a price of C$4.48 per CEE Share; and (ii) 651,100 shares issued as “flow through shares” with respect to “Canadian development expenses” (the “CDE Shares”) at a price of C$3.84 per CDE Share.
Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District, in Canada’s Yukon Territory, one of the highest-grade silver deposits in the world.
Miller Thomson advised Alexco on the Offering with a team led by Lucy Schilling (Capital Markets) and comprising of Peter McArthur, Gosia Piasecka, and Monika Satani (Capital Markets); and Nathalie Marchand (Corporate Tax).