AlexcoResource Corp. on April 27 announced plans to raise up to C$10.0million via a nonbrokered private placement of up to 8,340,000 units at C$1.20each.
Each unit will consist of 1 common share and 0.5 of anon-transferable common share purchase warrant. Each warrant entitles theholder to purchase 1 additional share of the company at C$1.75 per share in twoyears following the date of issuance.
If the closing price of company's common shares on the TSXis higher than C$2.50 for 10 consecutive days four months after the closingdate, the warrants may expire 10 trading days after the trigger date.
Proceeds will be used for exploration and development activitieson the company's assets and for general corporate purposes.