Precious Metals

For any questions, please contact Alexco Resource's proxy solicitation agent and communications advisor, Laurel Hill Advisory Group, toll free at 1-877-452-7184 (1-416-304-0211 outside North America ) or email assistance@laurelhill.com .

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") announced today that it has filed and mailed the management information circular dated July 28, 2022 (the " Circular ") and related meeting materials (collectively, the " Meeting Materials ") for its special meeting (the " Meeting ") of shareholders (the " Shareholders "), optionholders, restricted share unit holders, and deferred share unit holders of Alexco (collectively, the " Securityholders ") to be held on August 30, 2022 at 10:00 am (Pacific Time) (the " Meeting ") in connection with the proposed business combination with Hecla Mining Company ( NYSE: HL ) (" Hecla "), announced on July 5, 2022 .

The Meeting Materials contain important information regarding the Transaction, how Securityholders can attend and vote at the Meeting, that the Transaction is in the best interests of the Company and is fair to Shareholders, and the background that led to the Transaction and the reasons for the unanimous determinations of the special committee of independent Alexco directors (the " Special Committee ") and the board of directors of Alexco (the " Board "). The Meeting Materials have been filed by the Company on SEDAR and EDGAR and are available under the Company's profile at www.sedar.com and on EDGAR at www.sec.gov . The Meeting Materials are also available on the Company's website at Alexco - Investors - Special Meeting of Shareholders ( https://alexcoresource.com/investors/special-meeting-of-shareholders/ ).

At the Meeting, Securityholders will be asked to consider and, if deemed advisable, pass a special resolution (the " Arrangement Resolution ") to approve an arrangement (the " Arrangement "), in accordance with the terms of an arrangement agreement entered into by the Company and Hecla on July 4, 2022 , as assigned and amended (the " Arrangement Agreement ") pursuant to which 1080980 B .C. Ltd. (" 108 "), a subsidiary of Hecla , will acquire all of the issued and outstanding common shares of Alexco (the " Alexco Shares ") that it does not already own by way of a statutory plan of arrangement.

Board Recommendation

The Board unanimously recommends that Securityholders vote FOR the Arrangement resolution.

Pursuant to the terms of the interim order (the " Interim Order ") obtained on July 27, 2022 from the British Columbia Supreme Court (the " Court "), Securityholders of record at the close of business on July 20, 2022 will be entitled to receive notice of, attend and vote at the Meeting. Securityholders should carefully review all of the Meeting Materials as they contain important information concerning the Transaction and the rights and entitlements of Securityholders thereunder.

Pursuant to the terms of the Interim Order, for the Arrangement to become effective, the Arrangement Resolution will require approval of at least (i) 66⅔% of the votes cast by Shareholders present in person or represented by proxy and entitled to vote at the Meeting; (ii) 66⅔% of the votes cast by Securityholders, voting together as a single class, present in person or represented by proxy at the Meeting; and (iii) a majority of the votes cast by Shareholders other than votes attached to Alexco Shares required to be  excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions . The Circular regarding the Arrangement has been filed with regulatory authorities and mailed to the Securityholders in accordance with applicable securities laws.

The proposed closing date of the Arrangement is September 7, 2022 , subject to obtaining Court, Securityholder and regulatory approval and the satisfaction of conditions set forth in Arrangement Agreement.

Transaction Details

Under the terms of the Arrangement, Shareholders will receive 0.116 common shares in the capital of Hecla (each common share, a " Hecla Share ") for each Alexco Share held (the " Consideration ") pursuant to the Plan of Arrangement. In addition, to enable Alexco to maintain operations prior to completion of the Arrangement, Hecla has provided Alexco with a US$30 million convertible secured loan facility, of which US$20 million has been drawn as of the date of this release and has purchased, through an affiliate, 8,984,100 Alexco Shares at C$0.50 per Alexco Share, having an aggregate value of C$4,492,050 , resulting in 9.9% of Alexco Shares being held by Hecla or its affiliates.

Reasons for the Arrangement

In evaluating and unanimously approving the Arrangement, the Special Committee and the Board gave careful consideration to the current position and condition and the expected and potential future position and condition of the business of the Company, and all terms of the Arrangement Agreement, including the conditions precedent, representations and warranties and deal protection provisions. The Special Committee and the Board considered a number of factors including, among others, the following:

  • Premium . The Consideration to be received by Shareholders pursuant to the Arrangement represents a premium of 12% on a spot basis to the July 1, 2022 closing price, and 24% premium using the trailing 5-day volume weighted average trading price on the NYSE American for Alexco Shares and the NYSE for Hecla Shares as of market close on July 1, 2022 .
  • Liquidity. Based on the immediate financing requirements, the business, operations, financial condition and prospects of the Company, as well as the current and prospective environment in which the Company operates, including macroeconomic conditions in Canada and globally, there is a significant risk that the Alexco shares could continue to trade below US$0.417 , the closing price as at July 1, 2022 , over the short to medium term. The Consideration provides Shareholders with immediate liquidity at a price that may not be available in the absence of the Arrangement.
  • Strengths and Strategic Fit. If the Arrangement is completed, it is expected that Shareholders will benefit from:

(i)  the consolidation of the assets of Alexco and Hecla ;
(ii)  jurisdictional and project risk diversification; and
(iii)  enhanced capital markets profile, financing capacity and access to capital.

  • Shareholders will also be able to continue to participate in the potential upside from any exploration and development success related to the properties of Alexco, as well as the other properties of Hecla . It is expected that Shareholders will hold approximately 3% of the Hecla Shares on an outstanding undiluted basis upon completion of the Arrangement.
  • Process. The Arrangement with Hecla resulted from discussions that began months ago. During that time, the management, and financial advisors of Alexco communicated with several other parties regarding potential transactions. Confidentiality agreements were entered into with seven potential acquirors or merger partners. Discussions were held with each. The Arrangement is the most attractive of those alternatives.  All potential acquirors or merger partners expressed the view that existing silver purchase agreement between Wheaton Precious Metals Corp. and Alexco and certain of its subsidiaries (the " Wheaton Stream Agreement ") would require amendment to ensure the financial viability of Alexco's conventional mining and milling of silver-lead-zinc ore from certain deposits in the Keno Hill District in Yukon, Canada (the " Keno Hill Project "). Of all of the parties the Company approached, only Hecla was successful in negotiating satisfactory arrangements with Wheaton with respect to the Wheaton Stream Agreement.
  • Business and Industry Risks. The business, operations, assets, financial condition, operating results and prospects of Alexco are subject to significant uncertainty, including risks associated with Wheaton's silver purchase streaming rights on its Keno Hill Project, risks associated with a negative working capital position, and risks associated with obtaining the required financing on acceptable terms or at all. The Special Committee concluded that the Company immediately required additional financing and of the financing alternatives, the Arrangement provided a more favourable outcome to the Company and its stakeholders than any other option that was reasonably available.  Further, the Special Committee determined that the Consideration under the Arrangement is more favourable to Shareholders than continuing with Alexco's current business plan in light of these risks and uncertainties.

Shareholder Questions and Voting Assistance

For any questions or assistance with voting, shareholders can contact Laurel Hill Advisory Group at 1-877-452-7184 (toll-free in North America ), 1-416-304-0211 (calls outside North America ) or by email at assistance@laurelhill.com .

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 mines in the world.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements, which relate to future events or future performance. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements herein include, without limitation, statements regarding the Meeting; statements with respect to the consummation and timing of the transaction; approval by Securityholders; the satisfaction of the conditions precedent to the transaction; the Consideration to be received by Shareholders; the expected benefits of the Arrangement; Shareholders' estimated shareholdings in Hecla following the completion of the Arrangement, and timing, receipt and anticipated effects of Court, regulatory and other consents and approvals. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company, including assumptions as to the ability of Alexco and Hecla to receive, in a timely manner and on satisfactory terms, the necessary regulatory, Court, securityholder and other third party approvals; the satisfaction of the conditions to closing of the Arrangement in a timely manner and completion of the Arrangement on the expected terms; the expected adherence to the terms of the Arrangement Agreement and agreements related to the Arrangement Agreement; the adequacy of our and Hecla's financial resources; favourable equity and debt capital markets; and stability in financial capital markets. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include, among others: the risk that the Arrangement may not close when planned or at all or on the terms and conditions set forth in the Arrangement Agreement; the failure of the Company and Hecla to obtain the necessary regulatory, Court, securityholder, and other third-party approvals, or to otherwise satisfy the conditions to the completion of the Arrangement, in a timely manner, or at all, may result in the Arrangement not being completed on the proposed terms, or at all; changes in laws, regulations and government practices; if a third party makes a Superior Proposal (as defined in the Arrangement Agreement), the Arrangement may not be completed and the Company may be required to pay the Termination Fee (as defined in the Arrangement Agreement); if the Arrangement is not completed, and the Company continues as an independent entity, there are risks that the announcement of the Arrangement and the dedication of substantial resources of the Company to the completion of the Arrangement could have an impact on the Company's current business relationships and could have a material adverse effect on the current and future operations, financial condition and prospects of the Company; future prices of silver, gold, lead, zinc and other commodities; market competition; and the geopolitical, economic, permitting legal climate that Alexco and Hecla operate in; and the additional risks and uncertainties identified in Alexco's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com ) and with the SEC on EDGAR (available at www.sec.gov/edgar.shtml ). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Cision View original content: https://www.prnewswire.com/news-releases/alexco-announces-the-filing-of-management-information-circular-in-connection-with-special-meeting-to-approve-acquisition-by-hecla-301600496.html

SOURCE Alexco Resource Corp.

Cision View original content: http://www.newswire.ca/en/releases/archive/August2022/04/c7581.html

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AXU
ALEXCO ANNOUNCES SECOND QUARTER 2022 RESULTS

ALEXCO ANNOUNCES SECOND QUARTER 2022 RESULTS

(All amounts in CDN$ unless otherwise indicated)

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") today reports financial results for the three and six month periods ended June 30, 2022 (" Q1 2022 " and " YTD 2022 ") compared to the three and six month periods ended June 30, 2021 (" Q2 2021 " and " YTD 2021 ").

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ALEXCO OBTAINS INTERIM ORDER AND PROVIDES TRANSACTION UPDATE

ALEXCO OBTAINS INTERIM ORDER AND PROVIDES TRANSACTION UPDATE

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") announced today that it obtained an interim order (the " Interim Order ") from the Supreme Court of British Columbia (the " Court ") on July 27, 2022 authorizing the holding of its special meeting (the " Meeting ") and matters relating to the conduct of the Meeting. At the Meeting, shareholders, optionholders, restricted share unit (" RSU ") holders, and deferred share unit (" DSU ") holders of Alexco (collectively, the " Securityholders ") will be asked to consider and, if deemed advisable, pass a special resolution (the " Arrangement Resolution ") to approve an arrangement (the " Arrangement "), in accordance with the terms of the arrangement agreement entered into by the Company and Hecla Mining Company ( NYSE: HL ) (" Hecla ") on July 4, 2022 as assigned and amended (the " Arrangement Agreement "), pursuant to which 1080980 B .C. Ltd. (" 108 ") agreed to acquire all of the issued and outstanding Alexco Shares that it does not already own by way of a statutory plan of arrangement (the " Plan of Arrangement ") under section 288 of the Business Corporations Act ( British Columbia ).

Alexco also announces that it executed an assignment and amendment agreement dated July 25, 2022 (the " Amending Agreement ") with Hecla and 108 to amend the Arrangement Agreement, pursuant to which Hecla has assigned its obligations under the Arrangement Agreement, such that 108 will become the purchaser under the Plan of Arrangement. The Amending Agreement is available on SEDAR ( www.sedar.com ) under Alexco's issuer profile.

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TSX:AXR

Alexco Announces TSX Trading Symbol Change to AXU

Alexco Resource Corp. (“Alexco”) (TSX:AXR) announces that effective the start of trading on Monday, August 12, 2019, its common shares will commence trading on the Toronto Stock Exchange under the trading symbol AXU. The previous trading symbol was AXR. The change will align the Company’s Canadian trading symbol with its US trading symbol on the NYSE American, which is AXU.

No action is required to be taken by current shareholders in connection with the symbol change. No change has been made to Alexco’s share capital, company name, or CUSIP number, and there has been no consolidation of capital.

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TSX:AXR

Alexco Commences 2019 Keno Hill Exploration Program and Advances Surface Capital Construction Program

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXR) (“Alexco” or the “Company”) is pleased to announce the commencement of its 2019 summer surface exploration drilling program in the Keno Hill Silver District, focusing exploration in the vicinity of its Bermingham deposit where an indicated resource (including reserves) totalling 32.9 million (“M”) ounces (“oz”) of silver (“Ag”) at an average grade of 930 grams per tonne (“g/t”) Ag has been defined (see news release dated May 8, 2019, entitled “Alexco Files Technical Report on the Pre-Feasibility Study for Expanded Silver Production at Keno Hill Silver District”). The deposit remains open to the northeast and at depth into stratigraphic levels inferred to have controlled the deposition of the adjacent Hector-Calumet deposit that historically produced 96 M oz Ag at a recovered grade of 1,213 g/t Ag.

Along with the surface drilling program, Alexco has also commenced surface capital construction activities consistent with work outlined in the recently published pre-feasibility study (“PFS”). Initial capital work is focused on installation of the underground production-related portal infrastructure at the Bermingham decline, as well as installation of surface facilities, services and infrastructure to support future production.

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Silver Investing

Alexco Expands Environmental Business in Canada with Acquisition of Contango Strategies Ltd.

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXR) (“Alexco” or the “Company”) is pleased to announce that its wholly owned subsidiary, Alexco Environmental Group Holdings Inc. (“AEG”), has acquired Contango Strategies Ltd. (“Contango”), a private company based in Saskatoon, Saskatchewan, for consideration of $1,388,000 comprising $971,600 in cash and 237,999 common shares of Alexco at a deemed value of $416,400. The common shares were valued at $1.75 per share using a 20 day volume weighted average price per share. Payment will be in two tranches with $1,018,000 (comprising $601,600 in cash paid on closing and $416,400 in Alexco common shares to be issued upon receipt of all requisite regulatory approvals) and the remaining $370,000 cash payment to be made on the first anniversary of the transaction closing. The acquisition includes all of Contango’s operations including $450,000 in working capital, property, plant and equipment at an estimated value of $330,000 and 20 full-time staff.

Contango specializes in biological (passive, semi-passive and active) water treatment systems for mining, oil and gas, and industrial operations. Contango operates a year-round environmentally controlled pilot-scale facility, which allows for the development, testing and optimization of technologies such as bioreactors and constructed treatment wetlands. Additionally, genetic profiling using Contango’s in-house DNA sequencing facility and microbiology laboratories can detect and identify microbes for applications including bioreactor optimization, corrosion and fouling correction, and environmental remediation.

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Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has completed repayment of its senior secured US$40 million credit facility (" Credit Facility ") with Sprott Resource Lending Corp. (" Sprott ") subsequent to the completion of the sale of the Company's New Found Gold Corp. investment 1 . The Company is now free of long-term borrowings, with an unaudited consolidated cash balance of C$76.6 million.

The Company paid an aggregate amount of US$40,144,029 to Sprott in satisfaction of all amounts outstanding, including all accrued interest, on the Credit Facility. No early repayment penalties were paid. The Company is in the process of discharging all security previously granted to Sprott in connection with the Credit Facility.

ABOUT NOVO

Novo operates its flagship Beatons Creek project while exploring and developing its prospective land package covering approximately 11,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com .

On Behalf of the Board of Directors,

Novo Resources Corp.

" Michael Spreadborough "

Michael Spreadborough

Executive Co-Chairman and Acting CEO

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NOMAD ROYALTY COMPANY RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH SANDSTORM GOLD LTD.

NOMAD ROYALTY COMPANY RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH SANDSTORM GOLD LTD.

Nomad Royalty Company Ltd. (TSX: NSR) (NYSE: NSR) (" Nomad " or the " Company ") is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the Company by Sandstorm Gold Ltd. (the " Purchaser ") by way of a plan of arrangement in accordance with the Canada Business Corporations Act (the " Arrangement "). Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding shares of the Company for a consideration of 1.21 common shares of the Purchaser per Nomad share.

The Company has now received all regulatory and competition approvals required to complete the Arrangement. Subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement dated May 1, 2022 between the Company and the Purchaser, the Arrangement is expected to be effective on or about August 15, 2022 .

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JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims

JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims

(TheNewswire)

August 11, 2022 TheNewswire - Vancouver, British Columbia, Canada Jazz Resources Inc. (the " Company " or " JZR ") (TSXV:JZR) is pleased to announce that it intends to undertake a non-brokered private placement offering of convertible debentures (the " Debentures ") to raise gross proceeds of up to $1,000,000 (the " Offering ").  The principal sum of each Debenture will be $1,000.  The Debentures will bear interest at a simple rate of eight percent (8%) per annum and will mature on the date that is two (2) years from the date of issuance (the " Maturity Date "). For the first year of the term of the Debentures, interest will be paid in arrears in cash to the holders of the Debentures on the earlier of the conversion date or the date of the first anniversary of the Debentures. For the second year of the term of the Debentures, interest will be paid in arrears in cash on the earlier of the conversion date and the Maturity Date for interest accrued during the second year. The principal amount of the Debentures may, at the election of the holders and at any time prior to the Maturity Date, be converted into common shares in the capital of the Company (the " Conversion Shares ") at a conversion price of $0.85 per Conversion Share.  The Debentures will be offered pursuant to one or more prospectus exemptions set out in National Instrument 45-106 Prospectus Exemptions .

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GCM Mining Announces Second Quarter and First Half 2022 Results

GCM Mining Announces Second Quarter and First Half 2022 Results

GCM Mining Corp. (TSX: GCM; OTCQX: TPRFF) announced today the release of its unaudited interim condensed consolidated financial statements ("Financial Statements") and accompanying management's discussion and analysis (MD&A) for the three and six months ended June 30, 2022. All financial figures contained herein are expressed in U.S. dollars ("USD") unless otherwise noted. Non-GAAP financial performance measures in this press release are identified with " NG ". For a detailed description of each of the non-GAAP measures used in this press release and a detailed reconciliation to the most directly comparable measure under IFRS, please refer to the Company's MD&A.

Second Quarter and First Half 2022 Highlights

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FREEGOLD ANNOUNCES THE WITHDRAWAL OF SOUTH32 FROM THE SHORTY CREEK OPTION AGREEMENT

FREEGOLD ANNOUNCES THE WITHDRAWAL OF SOUTH32 FROM THE SHORTY CREEK OPTION AGREEMENT

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) (Freegold) announces that South32 Limited (South32) has provided notice of its intention and election not to further fund any further Tranche Payments as defined in, and in terms of, the Option Agreement, and accordingly the Option Agreement has been terminated. Shorty Creek lies approximately 125 road km northwest of Fairbanks, Alaska and 4 kms to the south of the abandoned mining town of Livengood and the all-weather paved Elliott Highway.

The work funded by South32 over the last three years, has provided additional understanding of the mineralization at Shorty Creek with most of the work focused outside of the Hill 1835 target area, where Freegold previously focused its attention. The Hill 1835 area covers a 1,000 metre by 1,500 metre target area with copper mineralization associated with the magnetic high. Additional work by Freegold is expected to focus on the geochemical anomalies, with coincident magnetic highs located throughout the project area as well as additional follow-up in the Hill 1835 Area.

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Satori Reports 29.06 g/t Gold over 5.85 Metres in Latest South Zone Drill Holes

Satori Reports 29.06 g/t Gold over 5.85 Metres in Latest South Zone Drill Holes

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce the latest drill results from the spring exploration drilling at the 100%-owned Tartan Lake deposit near Flin Flon, Manitoba. Satori's winter drill program focused on shallow holes targeting extensions of the South Zone mineralization down plunge to the west and initial drilling of the McFadden target, a broad area of intense quartz carbonate veining located approximately 1,600 metres south of the South Zone.

Table 1.0 summarizes the drill results from the South Zone drill holes. The most significant intersection was reported in hole TLSZ22-21 which intersected 29.06 g/t Au over 5.85 metres and included 198.5 g/t Au over 0.80 metres. Coarse visible gold was observed in the drill core.

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