April 13, 2022 – Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) (“Alexco” or the “Company”) announces that it has closed the previously announced non-brokered private placement offering (the “Offering”) of 7,473,495 common shares (the “Shares”) at a price of $1.75 per Share, raising gross proceeds of $13,078,616 for the Company.
The Company intends to use the net proceeds of the Offering for general corporate purposes, including to fund the continued ramp-up of mining operations at Keno Hill.
The Shares issued pursuant to the Offering are subject to a statutory hold period and may not be traded until August 14, 2022 except as permitted by applicable securities legislation and the rules and policies of the Toronto Stock Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the 1933 Act and applicable securities laws or an exemption from such registration is available.
About Alexco
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. Alexco is currently advancing Keno Hill to commercial production and commenced concentrate production and shipments in the first quarter of 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation’s mineral resources through successful exploration.
Contact
Clynton R. Nauman, Chairman and Chief Executive Officer
Rajni Bala, Investor Relations and Communications Lead
Phone: (778) 945-6577
Email: info@alexcoresource.com
Website: www.alexcoresource.com
