Falco Resources Ltd. (TSX VENTURE: FPC) (“Falco” or the “Corporation”) announces that the eight (8) nominees listed in the management information circular dated October 10, 2017, were elected as directors of Falco.
Detailed results of the vote for the election of directors held at the annual and special meeting of shareholders on November 10, 2017 are set out below:
| Nominee | Votes For | % For | Votes Withheld | % Withheld |
| Mario Caron | 76,103,200 | 99.99% | 7,200 | 0.01% |
| Bryan A. Coates | 76,085,600 | 99.97% | 24,800 | 0.03% |
| Paola Farnesi | 73,290,911 | 96.30% | 2,819,489 | 3.70% |
| Claude Ferron | 76,103,200 | 99.99% | 7,200 | 0.01% |
| Luc Lessard | 76,087,600 | 99.97% | 22,800 | 0.03% |
| Sean Roosen | 76,084,600 | 99.97% | 25,800 | 0.03% |
| John Sabine | 76,046,890 | 99.92% | 63,510 | 0.08% |
| Chantal Sorel | 76,042,700 | 99.91% | 67,700 | 0.09% |
APPOINTMENT OF AUDITORS
The appointment of PricewaterhouseCoopers LLP as independent auditor of the Corporation, as provided for in the management information circular was also approved.
AMENDMENT TO THE ARTICLES
During the annual and special meeting of shareholders and based on the proxies received, the shareholders also approved the special resolution authorizing an amendment to the Articles of Incorporation of the Corporation to include the French form to its name, namely “Ressources Falco ltéeˮ.
RE-APPROVAL OF THE LONG TERM INCENTIVE PLAN
During the annual and special meeting of shareholders and based on the proxies received, the shareholders also re-approved the Long Term Incentive Plan.
ACCELERATION OF STOCK OPTION VESTING
Pursuant to the retirement of Mr. Paul-Henri Girard, the Board of Directors of Falco approved the acceleration of the vesting of all previously unvested stock options granted to Mr. Girard under the Long Term Incentive Plan. The vesting acceleration represents options exercisable for a total of 54,867 common shares of the Corporation at an exercise price of $0.98 per share. The acceleration of the vesting schedule of the Corporation’s stock options was effected pursuant to Section 5.3 of the Long Term Incentive Plan, which authorizes the Board of Directors, in its sole discretion, to substitute an accelerated vesting schedule for stock options granted under the Long Term Incentive Plan.
GRANTING OF OPTIONS
In addition, the Board of Directors approved the grant of incentive stock options to directors, officers and key employees to purchase up to an aggregate of 2,743,800 common shares in the capital stock of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.96 per share.
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns about 67,000 hectares of land in the Rouyn-Noranda mining camp, which represents approximately 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 from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Gold Royalties Ltd is the largest shareholder of the Company and currently owns 13.2% of the issued and outstanding shares of the Company. The Company has 180,620,244 shares issued and outstanding.
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.
Contact Information
For further information contact:
Vincent Metcalfe
Chief Financial Officer
514-905-3162
info@falcores.com