Falco Resources (TSX: V.FPC, Stock Forum) made a pivotal move in strengthening its board today when the Vancouver-based exploration company announced it had appointed Sean Roosen as Director and Chairman in the wake of the August 29 announcement that Osisko Gold Royalties (TSX: OR, Stock Forum) intended to up its ownership interest in the company to 14.99%.
According to the news release, Mr. Roosen is acting Chairman and CEO of Osisko Gold Royalties since June 2014 and was the co-founder of Osisko Mining where he was a major force in guiding the then junior exploration company into a leading intermediate gold producer. In that time of Osisko's transition, Roosen's permitting development and financial strategies helped push the $1.0 billion Canadian Malartic Mine into production.
Mr. Roosen, a graduate of the Haileybury School of Mines, also continues with directorships including Condor Petroleum, Dalradian Resources and NioGold Mining.
Company President and CEO, Trent Mell, commented on the appointment, “Sean made an enormous contribution to the gold mining industry in the Province of Quebec during his tenure as President and CEO of Osisko Mining Corp.”
He went on, “Falco stands to benefit from a stronger relationship with its largest shareholder in three ways: access to capital, technical bench strength and first-in-class sustainability practices. I have known Sean for several years and I am looking forward to working with him.”
Sean Roosen added, “We know the Abitibi and I believe our expertise can help Falco advance its strategic objectives.”
Then summed up, “Falco controls the last of the large Abitibi camps that is not owned by a major gold producer and, as their largest shareholder, we want to help them succeed.”
In other news, Falco Resources also announced that it was to present at the 2014 Precious Metals Summit.
Shares gained 3.45% on the news to $0.60 per share.
Currently there are 73.8m outstanding shares with a market cap of $44.3 million.
FULL DISCLOSURE: Falco Resources is a Stockhouse Publishing client.