Alexco Closes Flow-through and Non-brokered Private Placements

Alexco Resource Corp. (TSX:AXR,NYSEMKT:AXU) announced that it’s closed a flow-through private placement with Canaccord Genuity Corp., issuing 5,662,500 flow-through common shares priced at $C0.53 each. Total proceeds came to C$3,001,125.
As quoted in the press release:

The net proceeds from the sale of the Flow-Through Shares will be used for expenditures on the Company’s Keno Hill District exploration properties, which qualify as Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)). The Company will incur such Canadian exploration expenses no later than December 31, 2016 and renounce such Canadian exploration expenses with an effective date of no later than December 31, 2015. With completion of this Offering, the Company is fully funded for all planned 2016 exploration expenditures.
Concurrent with the Underwritten Offering, the Company is pleased to announce the closing of the previously announced non-brokered private placement of 2,000,000 common shares at a price of C$0.48 per share for gross proceeds of C$960,000 (the “Non-Brokered Private Placement”). The net proceeds from the Non-Brokered Private Placement are expected to be used by the Company for its projects and for general working capital purposes. In consideration for arranging the Non-Brokered Private Placement, the Company paid a finder’s fee of $57,600.

Click here to read the full Alexco Resource Corp. (TSX:AXR,NYSEMKT:AXU) press release.