GlobeNewswire
Falco announces directors election
MONTREAL, November 20, 2020 (GLOBE NEWSWIRE) – Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) announces that the seven (7) nominees are listed in the Management Information Circular dated October 13, 2020, have been elected as Directors of Falco. Detailed results of the vote on the election of directors held at the Annual General Meeting on November 18, 2020 are set out below: ITEM # 1 Nominated Votes Percentage (%) of Votes cast by percentage (%) of votes cast with Benoit Brunet77,553, 06798,84911,1021,16 Mario Caron77,508,06198,78956,1081.22 Bryan A. Coates77,625,42198,93838,7481.07 Paola Farnesi77,535,16198,82929,0081, 18 Luc Lessard77,630, 06198,94834,1081,06 Angelina Mehta77,657,16398,97807,0061.03 Chantal Sorel77,657,16398,97807,0061.03 Appointment and remuneration of the auditorBased on the proxies received and the votes with a show of hands , PricewaterhouseCoopers, LLP, Chartered Professional Accountants, has been appointed as the Company’s Independent Auditor for the following year and the Directors are entitled to set their remuneration with the following results: ITEM # 2 Votes, that were cast for the percentage (%) of votes cast for votes, percentage (%) of votes, retention, appointment and remuneration of auditors r79,754,65598,651,095,1831.35 Resolution on the long-term incentive plan based on the proxies received and a show of hands, shareholders voted in favor of the ordinary resolution relating to the approval of the Company’s existing Long Term Incentive Plan (“LTIP”). The results are as follows: ITEM No. 3 Votes percentage (%) of votes cast AGAINST Votes AGAINST Percentage (%) of votes AGAINST the ordinary resolution approving the company’s existing LTIP74.813.20895,353.650.9614.65. Granting of Stock Options The Company also announces that the Board of Directors has approved the granting of incentive stock options to directors, officers and key employees to purchase a total of 6,076,000 common shares of the Company’s share capital. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $ 0.45 per share, a premium of $ 0.06 (15.4%) over the closing price of the company’s common stock listed on the TSX Venture Exchange via Falco Falco is one of the largest mineral owners in the province of Quebec with extensive landowners in the Abitibi Greenstone Belt. Falco owns approximately 70,000 hectares of land in the Rouyn-Noranda mining camp, which accounts for 70% of the total camp and includes 13 former gold and base metal mines. Falco’s principal assets are the Horne 5 project in the former Horne mine, operated by Noranda (now Glencore Canada Corporation) from 1927 to 1976, which produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko is the company’s largest shareholder and currently owns 18.3% of the company’s issued and outstanding shares. Osisko has announced its stake in its new subsidiary Osisko Development Corp. to transfer while maintaining its silver stream holdings. For more information, please contact: Luc Lessard President and Chief Executive Officer 514-261-3336 [email protected] Jeffrey White, LL.B, MBA Director, Investor Relations 416-274-7762 [email protected] Amélie Laliberté Coordinator, Investor Relations 418-455-4775 [email protected] Neither the TSX Venture Exchange nor its regulatory services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
