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Alexco Announces Securityholder Approval of the Plan of Arrangement at Special Meeting and Provides Transaction Update

Press Release

August 30, 2022  Alexco Resource Corp. (NYSE American/TSX: AXU) (“Alexco” or the “Company”) announced today that the Company’s Securityholders (as defined below) approved the previously announced acquisition of Alexco by 1080980 B.C. Ltd. (“108”), a subsidiary of Hecla Mining Company (NYSE: HL) (“Hecla”) by way of a plan of arrangement (the “Arrangement”) at a special meeting of Securityholders held earlier today (the “Meeting”).

The special resolution approving the Arrangement was approved by (i) 92.04% of the votes cast by Alexco’s shareholders (the “Alexco Shareholders”) present or represented by proxy at the Meeting; (ii) 92.92% of the votes cast by Alexco Shareholders, optionholders, restricted share unit holders and deferred share unit holders of Alexco (collectively, “Securityholders”), voting as a single class, present or represented by proxy at the Meeting; and (iii) 91.50% of votes cast by Alexco Shareholders other than votes attached to Alexco shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.

Under the terms of the Arrangement, Alexco Shareholders will receive 0.116 common shares in the capital of Hecla for each Alexco share held (the “Consideration”). Information regarding the procedure for exchange of shares for Consideration is provided in the Company’s management information circular dated July 28, 2022, related to the Meeting (the “Circular”). The Circular and accompanying letter of transmittal (the “Letter of Transmittal”) are available on SEDAR under the Company’s profile on SEDAR at and on the Company’s website at If you are a holder of Alexco restricted share units, you will need to wait to submit your Letter of Transmittal until you have received details from the Company following the effective date of the Arrangement regarding your shares of Alexco.

The Arrangement remains subject to approval of the Supreme Court of British Columbia (the “Court”) and the satisfaction or waiver of other customary conditions. On July 27, 2022, the Commissioner of Competition issued an advance ruling certificate. The Court hearing for the final order to approve the Arrangement is currently scheduled to take place on September 1, 2022 and closing of the Arrangement is expected to close on September 7, 2022. Following completion of the Arrangement, Alexco’s shares are expected to be delisted from the Toronto Stock Exchange and NYSE American. An application is also expected to be made for the Company to cease to be a reporting issuer in the applicable jurisdictions upon closing of the Arrangement.

Additional information regarding the terms of the Arrangement is set out in the Circular which is available under Alexco’s profile at

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.


Clynton R. Nauman, Chairman and Chief Executive Officer
Rajni Bala, Investor Relations and Communications Lead
Phone: (778) 945-6577
Email: [email protected]


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