Of those 12, nine have found new clubs and three are still free agents while six could potentially line up AGAINST Falkirk this season, having signed for Scottish League 1 sides.
Here is where the familiar names will be playing their football next season.
1. Blair Alston - Kilmarnock
Although he didn't win promotion with the Bairns Alston WILL be playing in the Championship next season. He was signed by Kilmarnock after Falkirk agreed to terminate his contract a year early. Photo: Michael Gillen
2. Aidan Connolly - Raith Rovers
Another player who will move up a division after his release, the winger rejoined former club Raith Rovers and will hope to finally put the injury problems which dogged his time at the Falkirk Stadium behind him. Photo: Michael Gillen
3. Conor Sammon - Alloa Athletic
The striker will line up against the Bairns next season having joined League 1 rivals Alloa Athletic after their relegation from the Championship last season. The Wasps are the 34-year old's sixth Scottish club. Photo: Michael Gillen
4. Mark Durnan - Alloa Athletic
Joining Sammon at Alloa will be Mark Durnan who will turn out for the eighth Scottish side of his career having also played for Dunfermline, Dundee United and Queen of the South before he moved to Falkirk. Photo: Michael Gillen