Alexco Resource Corp. (TSX: AXU) (NYSE: AXU) today announced that the company has entered into an agreement with a group of underwriters to conduct a bought deal financing. The financing is to be co-led by Cantor Fitzgerald Canada Corporation and Cormark Securities.
The financing will see a total of 7,143,000 common shares of the company sold at a price of $3.50 per share for gross proceeds of roughly $25 million. A 15% over-allotment option has also been granted.
Proceeds from the offering will be used to fund development at Keno Hill, and for general corporate and working capital purposes.
Closing is expected to take place on or about June 10, 2021.
Alexco Resource Corp. last traded on the NYSE at $3.24.
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