Falco Announces Election of Directors
November 20 2020 - 5:32PM
Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”)
announces that the seven (7) nominees listed in the management
information circular dated October 13, 2020, were elected as
directors of Falco.
Detailed results of the vote for the election of
directors held at the annual meeting of shareholders on
November 18, 2020 are set out below:
ITEM
No1Nominee |
Votes
CastFOR |
Percentage (%) of Votes
Cast FOR |
Votes WITHHELD |
Percentage (%) of
Votes WITHHELD |
Benoit Brunet |
77,553,067 |
98,84 |
911,102 |
1,16 |
Mario Caron |
77,508,061 |
98,78 |
956,108 |
1,22 |
Bryan A. Coates |
77,625,421 |
98,93 |
838,748 |
1,07 |
Paola Farnesi |
77,535,161 |
98,82 |
929,008 |
1,18 |
Luc Lessard |
77,630,061 |
98,94 |
834,108 |
1,06 |
Angelina Mehta |
77,657,163 |
98,97 |
807,006 |
1,03 |
Chantal Sorel |
77,657,163 |
98,97 |
807,006 |
1.03 |
Appointment and Remuneration of
Auditor
Based on the proxies received and the votes on a
show of hands, PricewaterhouseCoopers, LLP, Chartered Professional
Accountants, was appointed as independent auditor of the
Corporation for the ensuing year and the directors are authorized
to fix their remuneration, with the following results:
ITEM
No2 |
Votes castFOR |
Percentage (%) of Votes
CastFOR |
Votes WITHHELD |
Percentage (%) of
Votes WITHHELD |
Appointment and Remuneration of Auditor |
79,754,655 |
98.65 |
1,095,183 |
1.35 |
Long-Term Incentive Plan
Resolution
Based on the proxies received and the votes on a
show of hands, shareholders approved the ordinary resolution with
respect to the approval of the Corporation’s existing long-term
incentive plan (“LTIP”). The results are as follows:
ITEM
No3 |
Votes castFOR |
Percentage (%) of Votes
CastFOR |
Votes AGAINST |
Percentage (%) of
Votes AGAINST |
Ordinary resolution to approve the Corporation’s existing LTIP |
74,813,208 |
95.35 |
3,650,961 |
4.65 |
Grant of Stock Options
The Corporation also announces that the Board of
Directors approved the grant of incentive stock options to
directors, officers and key employees to purchase up to an
aggregate of 6,076,000 common shares in the capital stock of the
Corporation. Grants are subject to a three-year vesting period and
a five-year term at an exercise price of $0.45 per share,
representing a $0.06 (15.4%) premium over the closing price of the
common shares of the Corporation listed on the TSX Venture Exchange
on November 20, 2020.
About Falco
Falco is one of the largest mineral claim
holders in the Province of Québec, with extensive land holdings in
the Abitibi Greenstone Belt. Falco owns approximately 70,000
hectares of land in the Rouyn-Noranda mining camp, which represents
70% of the entire camp and includes 13 former gold and base metal
mine sites. Falco’s principal asset is the Horne 5 Project located
in the former Horne mine that was operated by Noranda (now Glencore
Canada Corporation) from 1927 to 1976 and produced
11.6 million ounces of gold and 2.5 billion pounds of copper.
Osisko is the largest shareholder of the Corporation and currently
owns 18.3% of the issued and outstanding shares of the Corporation.
Osisko has announced that it intends to transfer its share
ownership to its new subsidiary Osisko Development Corp. while
retaining its silver stream interests.
For further information, please
contact:
Luc Lessard President and Chief Executive Officer 514-261-3336
info@falcores.comJeffrey White, LL.B, MBADirector, Investor
Relations416-274-7762rjwhite@falcores.com
Amélie LalibertéCoordinator, Investor Relations 418-455-4775
info@falcores.com
Neither the TSX Venture Exchange nor its
Regulation 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.
Falco Resources (TSXV:FPC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Falco Resources (TSXV:FPC)
Historical Stock Chart
From Sep 2023 to Sep 2024