Windfall Geotek Announces a Strategic Financing of up to $3.5M to Accelerate Eagle Eye(TM) Goto Market for Battery Metals and UXO Detection
Brossard,Quebec – TheNewswire – March1,2021 - Windfall Geotek (TSXV:WIN) (OTCQB:WINKF) (“Windfall” of the “Company”) a mining technology company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector, is pleased to announce a strategic non-brokered offering of up to $3.5M (the “Offering”) with intended lead orders from ThreeD Capital (CSE:IDK, OTCQB:IDKF) and Draganfly (CSE: DFLY) (OTCQB: DFLYF) (FSE: 3U8).
The Offering is for up to 10,000,000 units at a price of $0.35 per unit comprised of one common share and one common share purchase warrant at $0.50 per share for a period of 24 months following the closing of the Offering. The proceeds will be used to continue the R&D for land mines and unexploded ordinance (UXO) detection application as well as speed up the goto market for the EagleEye™ technology in the mining sector including building a dedicated team for the new application and the opening of a Toronto office. The Offering remains subject to regulatory approval.
Dinesh Kandanchatha, Chairman of Windfall Geotek commented: “We are excited about accelerating this phase of Windfall’s growth with partners like Draganfly and ThreeD capital. Bringing these three companies together checks all the boxes, experienced capital, world class engineering, and AI. Together we will be able to transform primary exploration.”
Cameron Chell, CEO of Draganfly commented: “We are excited about deepening our partnership with Windfall Geotek. Their EagleEye™ is offering that leverages Draganfly sensor and drone technology, creating a unique digital exploration solution that is both cost effective and sustainable.”
Sheldon Inwentash CEO and Founder of ThreeD Capital commented: "As a seasoned active investor at the leading edge of technology in mining, I have known about Windfall Geotek for over a decade. Windfall is now an innovative way to get exposure to the best exploration projects through a technology play."
See below link for short video of our recent field test for the UXO detection:
About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
For further information, please contact:
President and CEO of Windfall Geotek
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software and AI systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 22 years, Draganfly is an award-winning, industry-leader serving the public safety, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.
For more information on Draganfly, please visit us at www.draganfly.com. For additional investor information, visit https://www.thecse.com/en/listings/technology/draganfly-inc, https://www.otcmarkets.com/stock/DFLYF/overview or https://www.boerse-frankfurt.de/aktie/draganfly-inc.
About ThreeD Capital
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
Jakson Inwentash, CFA
ThreeD Capital Inc.
130 Spadina Avenue, Suite 401
Additional information about the Company is available under Windfall Geotek’s profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains forward-looking information, which relate to future events or future performance and reflect management’s current expectations and assumptions. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be forward-looking information. Such forward-looking information reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Such factors include, but are not limited to, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Windfall Geotek’s issuer profile. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.