(July 23, 2020) Montreal, Québec – Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce the appointment of Mr. Benoit Brunet to the Corporation’s Board of Directors as a nominee of Osisko Gold Royalties Ltd (“Osisko”).
Mr. Benoit Brunet has over 10 years of experience in the finance sector. He has recently been appointed as Vice President, Business Strategy of Osisko. Prior to that, he was with the Québec Private Equity group of the Caisse de dépôt et placement du Québec (the “Caisse”), one of the largest North American institutional investors where he helped deploy $700 million in the mining sector across the province of Québec. Up to his appointment with Osisko, he was overseeing investments totaling approximately $1.5 billion and known for having structured innovative financial instruments for some of the largest mining projects in Québec. Mr. Brunet has worked closely with Osisko’s management team for the last several years and has a deep knowledge of Osisko’s portfolio of assets and accelerator companies, including Falco.
Prior to joining the Caisse, Mr. Brunet worked at PricewaterhouseCoppers LLP for the assurance group in Montréal. Mr. Brunet holds a CPA designation, an undergraduate and graduate degree in public accounting from the Université du Québec à Montréal.
Mr. Bryan A. Coates, Chair of the Board of Directors of Falco, stated: “We are very pleased to welcome Benoit to our Board of Directors. His knowledge of Quebec’s major financing institutions as well as his business acumen will be a great complement to the Board. We look forward to Benoit’s contribution to promote the development of the Horne 5 project”.
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 approximately 70,000 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 asset 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 Corporation and currently owns 18.3% of the issued and outstanding shares of the Corporation.
For further information, please contact:
President and Chief Executive Officer
Jeffrey White, LL.B, MBA
Investor Relations Manager
Coordinator, Investor Relations
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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 securities laws and the United States Private Securities Litigation Reform Act of 1995. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. All statements, other than statements of historical facts, are 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” and includes, without limitation, achievement of objectives set for the investor relation program. 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 include, without limitation, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for minerals, failure to obtain the requisite permits and approvals from government bodies and third parties, regulatory and governmental policy changes (laws and policies),operational difficulties encountered in connection with the activities of the Company, other matters discussed in this news release and those risks set out in Falco’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. 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.