Falco Announces Election of Directors, Appointment of Lead Director and Granting of Stock Options
MONTREAL, QC--(Marketwired - November 25, 2015) - Falco Resources Ltd. (TSX VENTURE: FPC) ("Falco" or the "Company") announces that the seven (7) nominees listed in the management information circular dated October 27, 2015, 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 24, 2015 are set out below.
| Nominee | Votes For | % For | Votes Withheld | % Withheld | ||
| Mario Caron | 36,982,988 | 99.97 | % | 10,000 | 0.03 | % |
| Hélène Cartier | 36,979,988 | 99.96 | % | 13,000 | 0.04 | % |
| James Davidson | 35,039,288 | 94.72 | % | 1,953,700 | 5.28 | % |
| Claude Ferron | 34,401,788 | 93.00 | % | 2,591,200 | 7.00 | % |
| Paul-Henri Girard | 35,039,288 | 94.72 | % | 1,953,700 | 5.28 | % |
| Luc Lessard | 36,992,988 | 100.00 | % | 0 | 0.00 | % |
| Sean Roosen | 35,039,288 | 94.72 | % | 1,953,700 | 5.28 | % |
The appointment of PricewaterhouseCoopers LLP also as provided for in the management information circular was approved.
LEAD DIRECTOR
The Board of Directors is pleased to announce the appointment of Mr. Mario Caron, newly elected director of the Corporation, who will also act as lead director of the Board.
Mr. Caron holds a Bachelor of Engineering, Mining at McGill University and is a member of the Québec Order of Engineers and the Association of Professional Engineers of Ontario. He is a mining executive with over 35 years of experience in the mining industry, including board and management expertise in operations, development, exploration, and capital markets as well as government relations with companies having projects in the Americas, Africa and South-East Asia.
LONG-TERM INCENTIVE GRANTS
Following the election of directors, the Board of Directors approved the grants of incentive stock options to the newly elected directors to purchase up to an aggregate of 734,521 common shares in the share capital of the Company. Grants to directors are subject to a two-year vesting period and a three-year term, at an exercise price of $0.26 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 74,000 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 property is the Horne Mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. A maiden 43-101 mineral resource estimate for the Horne 5 deposit delineated an initial inferred resource of 2.8 Moz AuEq at 3.41 g/t AuEq (25.3 million tonnes grading 2.64 g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz Au -- see March 4, 2014 press release for details).
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
Vincent Metcalfe
Chief Financial Officer
514.905.3162
info@falcores.com
