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Alexco Resource increases offering to C$9M

After outlining plans earlier in the day to raise C$7.5 million to advance its Keno Hill silver project, Alexco Resource Corp. increased the size of the offering to C$9 million.

The company said June 4 that it will issue 4,703,000 flow-through common shares at an average price of about C$1.92 apiece.

The offering will include 966,500 flow-through shares priced at C$2.05 apiece, with proceeds going toward exploration; 1,736,500 flow-through shares priced at C$2.05 apiece, with proceeds earmarked for mining expenditures; and 2 million flow-through shares priced at C$1.75 apiece, with proceeds going toward development expenses.

Closing is still anticipated on or around June 13.