Business
Windfall Geotek Announces and Closes Its Non-Brokered Private Placement
(TheNewswire) Brossard, Quebec - TheNewswire - January 20, 2021 &...
About this update from Windfall Geotek Inc.
[{"type":"text","content":"Windfall Geotek Announces and Closes Its Non-Brokered Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Brossard, Quebec - TheNewswire - January 20, 2021 –\nWindfall Geotek (“Corporation”) (TSXV:WIN\n \n \n )\n(OTC:WINKF), a Canadian mining technology and services company, a\nglobal leader in the use of Artificial Intelligence (AI) for digital\nexploration techniques since 2005, announce the closing of its\nnon-brokered private placement by issuing 9,996,667 units at a price\nof $0.06 per share for gross proceeds of $599,800.\n \n \n \n \n Each Unit consists of one common share and one common\nshare purchase warrant. Each full common share purchase warrant\nentitles the holder to purchase one common share at a price of $0.08\nuntil January 20, 2023.\n \n \n \n \n Insiders of the Corporation has participated by\npurchasing 733,334 common shares.\n \n \n \n \n The net proceeds will be used for funding it’s\nR&D for the security application (Landmines), to complete Internal\ngold signatures in the Red Lake (end of January), Kirkland Lake and\nTimmins areas as well as new hiring for marketing expansion in\nMontreal and soon, at our new Toronto office.\n \n \n \n \n All securities issued in the private placement are\nsubject to a four-month hold period and to all necessary regulatory\napprovals, including the approval of the Exchange.\n \n \n \n \n About Windfall Geotek\n \n \n –\n \n \n Powered by\nArtificial Intelligence (AI) since 2005\n \n \n \n \n \n \n Windfall Geotek (TSX-V:\nWIN) is the leader in the use of Artificial Intelligence (AI) and\nadvanced knowledge-extraction techniques in Digital Exploration since\n2005 in the mining sector. Windfall Geotek can count on a\nmultidisciplinary team that includes professionals in geophysics,\ngeology, Artificial Intelligence (AI), and mathematics. The Company's\nobjective is to develop a new royalty stream by significantly\nenhancing and participating in the exploration success rate of its\nmining clients, and to continue to develop its security\napplication.\n \n \n \n \n For further information, please contact:\n \n \n \n \n Michel Fontaine\n \n \n \n \n President and CEO of Windfall Geotek\n \n \n \n \n Telephone: 514-994-5843\n \n \n \n \n Email:\n \n \n \n [email protected]\n \n \n \n \...