Forms Finance Committee of the Board of Directors
MONTREAL, QC --(Marketwired - March 27, 2017) - Falco Resources Ltd. ("Falco" or the "Company") (TSX VENTURE: FPC) is pleased to announce the following appointments: Bryan A. Coates, President of Osisko Gold Royalties Ltd, will be joining the Board of Directors and will chair a newly formed Finance Committee of the Board of Directors. Hélène Cartier, who currently sits on the Board of Directors, will join the Company as Vice President Environment and Sustainability. Ms. Cartier will continue to sit on the Board of Directors until a director has been appointed to replace Ms. Cartier. Francois Vézina will be joining the Company as Vice President Technical Services and Christian Laroche will be joining the Company as Vice President Metallurgy. The Company believes that experienced industry professionals with a varied array of expertise and background will be an important asset to the Company as it advances its Horne 5 Project through the project financing and development phases.
Luc Lessard, President and CEO, commented, "As Falco continues to advance the Horne 5 Project to feasibility, the addition of these key individuals with various backgrounds in project financing, mine development and operations in Québec, will make them great assets to the Company."
FINANCE COMMITTEE OF THE BOARD OF DIRECTORS
The Board of Directors is pleased to announce the appointment of Bryan A. Coates as Chair of a newly formed Finance Committee of the Board of Directors. Mr. Coates will work with the current Board of Directors to nominate additional members to the committee.
Mr. Coates has been President of Osisko Gold Royalties Ltd since June 2014. From 2007 to 2014, he was the Vice President, Finance and Chief Financial Officer of Osisko Mining Corporation. Mr. Coates was responsible for all activities related to financing, financial reporting, marketing relating to the gold industry, risk management and government relations. Mr. Coates has more than 30 years of progressive experience within the international and Canadian mining industry. Before joining Osisko, he was Chief Financial Officer of IAMGOLD Corporation (2006-2007), Cambior Inc. (2001-2006) and Compañia Minera Antamina (1998-2001). Mr. Coates is a member of the Board of Directors of Timmins Gold Corp. and of Golden Queen Mining Co. Ltd. Mr. Coates holds an Honours Bachelor of Commerce from Laurentian University, is a member of the Chartered Professional Accountants of Ontario and obtained the ICD.D designation from the Institute of Corporate Directors.
EXECUTIVE TEAM APPOINMENTS
The Company is pleased to announce the following appointments to its operational team as it continues to advance its project to feasibility and through development.
Hélene Cartier appointed Vice President Environment and Sustainability
Ms. Hélène Cartier was formerly Vice President, Environment and Sustainable Development at Osisko Mining Corporation from 2011 to 2013. Ms. Cartier has been a Director of Falco since November 2015. From 2013 to 2015, Ms. Cartier was Deputy Manager of La rue des Femmes de Montréal. Ms. Cartier holds a degree in Industrial Engineering and a Bachelors Degree in Law. She was intimately involved in the community relations aspects during the permitting, construction and development phases of the Canadian Malartic Mine.
Ms. Cartier will step down from the Board of Directors once a Director has been duly appointed to replace Ms. Cartier on the Board of Directors.
Francois Vézina appointed Vice President Technical Services
Mr. Vézina is a Mining Engineer with over 17 years of experience in mining and has extensive experience in open pit and underground operations in Canada, Mexico and Finland. Mr. Vézina was Technical Service Manager for Agnico-Eagle Mines Limited and was responsible for overseeing the completion of the feasibility studies of LaRonde II, Pinos Altos and Kittilä. Mr. Vézina participated in the construction and commissioning of Pinos Altos as Mine Development Manager and Kittilä as Mine Operations Manager before joining the Osisko Mining Corporation and participating as Mine Manager in the construction of the Canadian Malartic Mine. He served for over 5 years as Mine Operations Manager at the Canadian Malartic mine. Mr. Vézina is a specialist in mine operation optimization and is recognized for innovative mining techniques and optimization of feasibility studies. Mr. Vézina holds a Bachelor degree in Mining Engineering and a Master in Business Administration (MBA). He is a registered Engineer (Eng.) in Quebec and (P.Eng.) in Ontatio.
Christian Laroche appointed Vice President Metallurgy
Mr. Laroche has over 16 years of experience in engineering, design and construction of mining projects. Prior to joining Osisko Mining Corporation in 2009, Mr. Laroche spent 9 years at BBA consulting engineering and participated as Project Manager on the Canadian Malartic development project. Mr. Laroche was site support engineer for the construction and commissioning of the Canadian Malartic project. Upon the sale of Osisko Mining Corporation, Mr. Laroche transitioned with Yamana Gold for one year, where he served as Director Metallurgy. Mr. Laroche joined Osisko Gold Royalties Ltd as Director Metallurgy in 2015.
LONG-TERM INCENTIVE GRANTS
The Board of Directors has approved the grants of incentive stock options to the newly appointed director and management members to purchase up to an aggregate of 143,600 common shares in the share capital of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.89 per share.
About Falco Resources Ltd.
Falco is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 68,800 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 Ltd is the largest shareholder of the Company and currently owns 14.2% of the outstanding shares of the Company.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set out in Falco's annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedar.com, as well as all assumptions regarding the foregoing. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
For further information contact:
Chief Financial Officer
Renmark Financial Communications Inc.
Source: Falco Resources Ltd