08:27 AM EST, 12/11/2024 (MT Newswires) -- Falco Resources ( FPRGF ) said on Wednesday that the majority of its disinterested shareholders approved an ordinary resolution about amending its existing convertible secured senior loan with Osisko Gold Royalties ( OR ) and the issuance of 17,690,237 warrants to Osisko.

Falco said the loan was amended in order for the accrued interest on the loan to be capitalized such that the principal amount is $23.9 million.

The conversion price was lowered to $0.45 from $0.50 and the interest rate was increased to 9% from 8%.

Falco also said shareholders elected Mario Caron, Alexander Dann, Paola Farnesi, Luc Lessard and Chantal Sorel as directors during its annual and special meeting on Dec. 10.

Shareholders also approved the appointment of PricewaterhouseCoopers as Falco's independent auditor.

Falco's share price rose 1.8% yesterday to $0.285 on the TSXV.