Alexco Patents (II of II)Sounds like these Harrington guys will certainly add some value to AXR in the future. No idea how to asess value to this part of the business. Just focusing on part of the Alexco March 01, 2007 PR:
Acquisition of Assets and Expansion of Alexco Services Business to US
The Company is also pleased to announce expansion of its services business to the United States through the establishment of Alexco Resource U.S. Corp ("Alexco US"), a Colorado company, and the acquisition of certain intellectual property and project rights from Green World Science of Nevada, Inc. ("Green World") and the addition of the principals of Green World, Joe Harrington and Jim Harrington, to the Alexco US management team.
The assets acquired from Green World include six U.S. patents (the "Patents"), some of which are registered in Canada among other countries. The Patents pertain to the in situ immobilization of metals and are specifically suited to mine closure related remediation. Two of the Patents, as registered in Canada, were previously under licence to the Company. The acquisition of the Patents, together with the interest of Green World in certain ongoing projects, will provide Alexco US with immediate remediation services revenue and cash flow. The consideration paid for the assets included 264,895 shares of the Company and cash; all consideration being escrowed pending registration of the assignment of the Patents.
Joe Harrington and Jim Harrington have joined Alexco US as Vice-President Technology and Strategic Development and Vice-President Engineering and Environmental Services respectively. Joe Harrington is the inventor of the Patents and both he and his brother Jim have extensive experience in developing and executing environmental remediation projects utilizing the Patents and otherwise. Their addition provides Alexco US with an experienced local team, to assist in advancing the Company's strategic plans.
-Alexs