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GoldSpot Discoveries to Advance SaaS Offering Through Acquisition of Geoscience Software Company Geotic Inc.
Portfolio of 5 software tools ( GeoticMine, GeoticLog, GeoticGraph, GeoticCAD and GeoticF...
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[{"type":"text","content":"GoldSpot Discoveries to Advance SaaS Offering Through Acquisition of Geoscience Software Company Geotic Inc.Portfolio of 5 software tools (GeoticMine, GeoticLog, GeoticGraph, GeoticCAD and GeoticField) offer diversified 3D modelling and core-logging, improving the way that Geologists and Engineers collect and analyze dataPowerful combination of GeoticLog and LithoLens will create an industry-first core logging and AI imaging cloud solution Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (\"GoldSpot\" or the \"Company\"), a leading technology services company leveraging machine learning to transform the mineral discovery process, is pleased to announce that on August 15, 2021, it has entered into a definitive agreement to acquire Geotic Inc. (\"Geotic\") an award-winning provider of mining industry software including applications for geological and geophysical modeling, based in Val-d'Or, Québec.Founded in 2002, Geotic operates a portfolio of five cutting-edge tools (GeoticMine, GeoticLog, GeoticGraph, GeoticCAD and GeoticField) as well as a modular core camera hardware system. From drilling data collection to 3D modelling, Geotic offers an integrated software solution to hundreds of global junior mineral explorers and senior producers with cost effective data analytics and an unmatched focus on quality and ease of use over traditional manual data collection methods.\"This acquisition solidifies our commitment to acquire licensable software products and build robust and recurring revenue streams,\" said Denis Laviolette, Executive Chairman and President of GoldSpot. \"Geotic has generated incredible momentum over the last few years and we are thrilled to add their portfolio to the GoldSpot family. The acquisition will significantly add to our ARR and annual revenue as we scale these products to our growing client base and the global mining community.\"Geotic's software includes GeoticLog, its customizable core-logging platform, GeoticMine, its 3D geological modeling and visualization solution, GeoticGraph, its drill-hole visualizer, GeoticCAD, a cost-effective alternative to common industry tools with an integrated drawing motor and GeoticField, its field-based survey data-entry platform. Geotic also offers a unique drill core photography hardware device...