Falco Announces Election of Directors, Approval of the Amended and Restated Shareholder Rights Plan and Approval of the Long
Term Incentive Plan Amendment
MONTREAL, QC--(Marketwired - November 23, 2016) - Falco Resources Ltd.
(TSX VENTURE: FPC) ("Falco" or the "Corporation") announces that the seven (7) nominees listed in
the management information circular dated October 20, 2016, 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
22, 2016 are set out below:
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| Nominee |
|
Votes
For |
|
%
For |
|
Votes
Withheld |
|
%
Withheld |
| Mario Caron |
|
37,882,586 |
|
94.21% |
|
2,326,200 |
|
5.79% |
| Hélène Cartier |
|
37,873,586 |
|
94.19% |
|
2,335,200 |
|
5.87% |
| Paola Farnesi |
|
40,149,286 |
|
99.85% |
|
59,500 |
|
0.15% |
| Claude Ferron |
|
37,861,586 |
|
94.16% |
|
2,347,200 |
|
5.84% |
| Paul-Henri Girard |
|
40,206,786 |
|
99.99% |
|
2,000 |
|
0.01% |
| Luc Lessard |
|
40,206,786 |
|
99.99% |
|
2,000 |
|
0.01% |
| Sean Roosen |
|
40,189,786 |
|
99.95% |
|
19,000 |
|
0.05% |
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The appointment of PricewaterhouseCoopers LLP as auditors of the Corporation, as provided for in the management information
circular was also approved.
AMENDED AND RESTATED SHAREHOLDER RIGHTS PLAN
The Corporation's amended and restated shareholder rights plan agreement (the "Rights Plan") which amends and restates the
Corporation's original shareholder rights plan agreement dated November 28, 2013 between the Corporation and Equity Financial
Trust Company has been approved by the Corporation's shareholders at the meeting.
The Rights Plan is not being adopted in response to any proposal to acquire control of the Corporation and the Corporation is
not aware of any such efforts at this time. Shareholders may access the Rights Plan through the Internet on the Canadian System
for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. Reference should be made to the full text of the Rights Plan for the details of its provisions.
FALCO ADOPTS A ROLLING PROVISION UNDER ITS LONG TERM INCENTIVE PLAN
During the annual and special meeting of shareholders, the shareholders also approved the reinstatement of Falco's rolling
stock option provision under its Long Term Incentive Plan ("LTIP"). Pursuant to the rolling stock option provision, options shall
not exceed 10% of the issued and outstanding shares of the Corporation, outstanding at the time of the granting of the Award (on
a non diluted basis), which may be granted from time to time to directors, senior officers, employees and other persons eligible
to be granted options. The rolling stock option provision contained in the Corporation's LTIP is subject to the approval of the
TSX Venture Exchange.
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 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 is the largest shareholder of the Corporation and currently owns 14.2% of the outstanding
shares of the Corporation.
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.