VANCOUVER, BC, Oct. 16, 2020 /CNW/ - Alexco Resource
Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or
the "Company") announced today that it has filed a preliminary
short form base shelf prospectus with the securities commissions in
each of the Provinces of British
Columbia, Alberta,
Ontario, Saskatchewan, and Manitoba and a corresponding amendment to its
registration statement on Form F-10 (Registration Statement) with
the United States Securities and Exchange Commission (SEC) under
the U.S./Canada Multijurisdictional Disclosure System which
replaces the Company's short form prospectus dated September 21, 2018, which ceases to be effective
on October 21, 2020.
The shelf prospectus filings, when final, will effectively renew
and duplicate existing terms allowing Alexco to make offerings of
common shares, warrants, subscription receipts and/or units up to
an aggregate total of Cdn$50 million
during the 25-month period that the final short form base shelf
prospectus remains effective. Such securities may be offered in
amounts, at prices and on terms to be determined based on market
conditions at the time of sale and set forth in one or more shelf
prospectus supplement(s) and, subject to applicable regulations,
may include at-the-market transactions, private placements, public
offerings or strategic investments. Information regarding the use
of proceeds from a sale of such securities will be included in the
applicable prospectus supplement.
The Registration Statement has been filed with the SEC, but has
not yet become effective. Securities may not be sold nor may offers
to buy be accepted prior to the time the Registration Statement
becomes effective. After the Registration Statement becomes
effective, a copy of the Registration Statement and a copy of the
preliminary short form base shelf prospectus, and copies of the
final short form base shelf prospectus and any shelf prospectus
supplements that may be filed in the future, can be found on SEDAR
at www.sedar.com and on EDGAR at www.sec.gov or may be obtained by
request to the Corporate Secretary of Alexco at Suite 1225, Two
Bentall Centre, 555 Burrard Street, Box 216, Vancouver, British Columbia, V7X 1M9,
Telephone (604) 633-4888.
If any securities are offered under the Prospectus or
Registration Statement, the terms of any such securities and the
intended use of the net proceeds resulting from such offering would
be established at the time of any offering and would be described
in a prospectus supplement filed with the applicable Canadian
securities regulatory authorities and the SEC at the time of such
an offering and would be made available by Alexco at the above
address.
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 production
and expects to start concentrate production and shipments in Q4
2020. As per Alexco's 2020 pre-feasibility study, Keno Hill is expected to produce an average of
approximately 4 million ounces of silver per year contained in high
quality lead/silver and zinc concentrates. Total production over an
8-year mine life is estimated at 1.18 million tonnes of ore at an
average rate of 430 tonnes per day at an average grade of 805 grams
per tonne. Keno Hill retains
significant potential to grow and Alexco has a long history of
expanding the operation's Mineral Resources through successful
exploration.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including in the United States.
Some statements ("forward-looking statements") in this news
release contain forward-looking information plans related to
Alexco's business and other matters that may occur in the future,
made as of the date of this news release. Forward-looking
statements may include, but are not limited to, statements with
respect to the preliminary short form base shelf prospectus, the
final short form base shelf prospectus, the registration statement,
any shelf prospectus supplements and any related shelf prospectus
filings. Forward-looking statements are subject to a variety
of known and unknown risks, uncertainties and other factors which
could cause actual events or results to differ from those expressed
or implied by the forward-looking statements. Such factors include,
among others, risks related to regulatory approval of the shelf
prospectus supplement filings, risks related to risks and
uncertainties relating to the COVID-19 pandemic including but not
limited to business closures, quarantines and a general reduction
in consumer activity; actual results and timing of exploration and
development, mining, environmental services and remediation and
reclamation activities; future prices of silver, gold, lead,
zinc and other commodities; possible variations in mineral
resources, grade or recovery rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; First Nation rights and title;
continued capitalization and commercial viability; global economic
conditions; competition; and delays in obtaining governmental
approvals or financing or in the completion of development
activities. Forward-looking statements are based on certain
assumptions that management believes are reasonable at the time
they are made. In making the forward-looking statements included in
this news release, the Company has applied several material
assumptions, including, but not limited to, the assumption that
regulatory approval of the any shelf prospectus filings and related
offerings will be obtained in a timely fashion, the circumstances
surrounding the COVID-19 pandemic, although evolving, will
stabilize or at least not worsen; that the extent to which COVID-19
may impact the Company, including without limitation disruptions to
the mobility of Company personnel, costs associated with
implementation of health and safety protocols, increased labour and
transportation costs, and other related impacts, will not change in
a materially adverse manner; Alexco will be able to raise
additional capital as necessary, that the proposed exploration and
development activities will proceed as planned, and that market
fundamentals will result in sustained silver, gold, lead and zinc
demand and prices. There can be no assurance that forward-looking
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Alexco expressly disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as
otherwise required by applicable securities legislation.
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SOURCE Alexco Resource Corp.