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Falco Resources Announces Election of Directors and Closing of Its Senior Debt Transactions
MONTRÉAL, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) announces that the five (5) nominees listed in the
About this update from Falco Resources Ltd.
[{"type":"text","content":" MONTRÉAL, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) announces that the five (5) nominees listed in the management information circular dated November 4, 2024, 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 December 10, 2024, are set out below: ITEM No1Nominee Votes CastFOR Percentage(%) of VotesCast FOR Votes AGAINST Percentage(%) of VotesAGAINST Mario Caron 117,113,938 99.637 426,433 0.363 Alexander Dann 109,446,599 93.114 8,093,772 6.886 Paola Farnesi 117,103,520 99.628 436,851 0.372 Luc Lessard 117,473,626 99.943 66,745 0.057 Chantal Sorel 113,119,685 96.239 4,420,686 3.761 Appointment and Remuneration of Auditor PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed as independent auditor of the Corporation for the ensuing year, with the following results: ITEM No2 Votes castFOR Percentage(%) of VotesCastFOR Votes WITHHELD Percentage(%) of VotesWITHHELD Appointment and Remuneration of Auditor 122,925,232 99.311 852,564 0.689 Long-Term Incentive Plan Resolution Shareholders approved the ordinary resolution with respect to the approval of the Corporation’s existing rolling 10% long-term incentive plan (“LTIP”). The results are as follows: ITEM No3 Votes CastFOR Percentage(%) of VotesCastFOR Votes AGAINST Percentage(%) of VotesAGAINST Ordinary resolution to approve the LTIP 101,288,332 86.173 16,252,039 13.827 Osisko Amendments Resolution The majority of the disinterested shareholders approved the ordinary resolution with respect to the amendment of the Corporation’s existing convertible secured senior loan (the “Osisko Loan”) with Osisko Gold Royalties Ltd (“Osisko”) and the issuance of 17,690,237 warrants of the Corporation to Osisko, each exercisable at any time from and after January 1, 2025 for one common share of Falco (each a “Common Share”) at an exercise price of $0.58 per Common Share and expiring on December 31, 2025 (the “Osisko Warrants”). The results are as follows: ITEM No4 Votes CastFOR Percentage(%) of VotesCastFOR Votes AGAINST Percentage(%) of VotesAGAINST Ordinary resolution of disinterested shareholders to approve the amendment of t...