Foraco Announces Election of Directors

TORONTO and MARSEILLE, France, May 9, 2019 /CNW/ - Foraco International SA (TSX: FAR) (the "Company" or "Foraco"), in accordance with Toronto Stock Exchange ("TSX") requirements, announced the voting results for the election of its Board of Directors at the ordinary meeting of shareholders of the Company held on May 7, 2019 in Marseille, France (the "Meeting"). In accordance with French law, shareholders of the Company, when voting in elections for directors, are given the option to vote "for" or "against/abstain" for the director nominees, meaning that it is not possible for nominees for directors to receive a majority of "withhold" votes.

The director nominees, as listed in the Company's management proxy circular, were elected as directors of the Company at the Meeting. The proxy votes submitted for each director were as follows:

Daniel Simoncini

                     Shareholders 
     
     PRESENT  
     
     POWERS        
     
     PROXIES      
         
     Total                % of             RESULT
                                                                                  votes                  votes        Adopted
                                                                                                         for

    ---


            FOR                       209,209        43,048,559        5,654,257              48,912,025        99.92%       
        Adopted

    ---


            AGAINST                                                     38,050                  38,050         0.08%

    ---


            Non                                                            200                     200             0
    vote/spoiled

    ---

Jean-Pierre Charmensat

                       Shareholders PRESENT 
     
      POWERS    PROXIES   
         
     Total            % of             RESULT
                                                                     votes              votes        Adopted
                                                                                        for

    ---


              FOR                  209,209     43,048,559 5,654,257          48,912,025        99.92%       
        Adopted

    ---


              AGAINST                                      38,050              38,050         0.08%

    ---


              Non                                             200                 200             0
    vote/spoiled

    ---

Bruno Chabas

                       Shareholders PRESENT 
     
      POWERS    PROXIES   
         
     Total            % of             RESULT
                                                                     votes              votes        Adopted
                                                                                        for

    ---


              FOR                  209,209     43,048,559 5,443,537          48,701,305        99.49%       
        Adopted

    ---


              AGAINST                                     248,770             248,770         0.51%

    ---


              Non                                             200                 200             0
    vote/spoiled

    ---

Warren Holmes

                       Shareholders PRESENT 
     
      POWERS    PROXIES   
         
     Total            % of             RESULT
                                                                     votes              votes        Adopted
                                                                                        for

    ---


              FOR                  209,209     43,048,559 5,654,257          48,912,025        99.92%       
        Adopted

    ---


              AGAINST                                      38,050              38,050         0.08%

    ---


              Non                                             200                 200             0
    vote/spoiled

    ---

Jorge Hurtado

                       Shareholders PRESENT 
     
      POWERS    PROXIES   Total votes         % of             RESULT
                                                                                   votes        Adopted
                                                                                   for

    ---


              FOR                  209,209     43,048,559 5,654,257     48,912,025        99.92%       
        Adopted

    ---


              AGAINST                                      38,050         38,050         0.08%

    ---


              Non                                             200            200             0
    vote/spoiled

    ---

In addition, the Meeting voted 99.98% in favour of the Company declaring a nil dividend in connection with the allocation of the Company's earnings (loss) for the 2018 fiscal year of EUR(3,383,971).

The Company's statutory filings are available at www.sedar.com.

About Foraco

Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 23 countries across five continents. For more information about Foraco visit www.foraco.com or please contact:

SOURCE Foraco International SA