WINKF - Windfall Geotek Announces a Strategic Financing of up to $3.5M to Accelerate Eagle Eye(TM) Goto Market for Battery Metals and UXO Detection
(TheNewswire)
DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBEDHEREIN
Brossard,Quebec – TheNewswire – March1,202 1 - Windfall Geotek (TSXV:WIN ) ( OTCQB:WINKF) (“Windfall” of the “Company”) amining technology company and a leader in the use of ArtificialIntelligence (AI) and advanced knowledge-extraction techniques since2005 in the mining sector, is pleased to announce a strategicnon-brokered offering of up to $3.5M (the “Offering”) withintended 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 perunit comprised of one common share and one common share purchasewarrant at $0.50 per share for a period of 24 months following theclosing of the Offering. The proceeds will be used to continue theR&D for land mines and unexploded ordinance (UXO) detection application as well as speed up the goto market forthe EagleEye™ technology in the mining sector including building adedicated team for the new application and the opening of a Torontooffice. The Offering remains subject to regulatory approval.
Dinesh Kandanchatha, Chairman ofWindfall Geotek commented : “We are excitedabout accelerating this phase of Windfall’s growth with partnerslike Draganfly and ThreeD capital. Bringing these three companiestogether checks all the boxes, experienced capital, world classengineering, and AI. Together we will be able to transform primaryexploration.”
Cameron Chell, CEO of Draganflycommented: “We are excited about deepening ourpartnership with Windfall Geotek. Their EagleEye™ is offering thatleverages Draganfly sensor and drone technology, creating a uniquedigital exploration solution that is both cost effective andsustainable.”
Sheldon Inwentash CEO and Founder ofThreeD Capital commented: "As a seasoned active investorat the leading edge of technology in mining, I have known aboutWindfall Geotek for over a decade. Windfall is now an innovative wayto get exposure to the best exploration projects through a technologyplay."
See below link for short video of ourrecent field test for the UXO detection:
https://www.youtube.com/watch?v=jEclNTXw-GI
About Windfall Geotek – Powered byArtificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that hasbeen in business for over 15 years developing its proprietary CARDSanalysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team thatincludes professionals in geophysics, geology, ArtificialIntelligence, and mathematics. It combinesavailable public and private datasets including geophysical, drillhole and surface data. The algorithms designed and employed byWindfall are calculated to highlight areas of interest that have thepotential to be geologically similar to other gold deposits andmineralization. The Company's objective is to develop a new royalty stream by significantlyenhancing and participating in the exploration success rate of miningand to continue the Land Mine detection application as a highpriority. Windfall has played a part in numerouspast discoveries utilizing its methodology as described at: https://windfallgeotek.com/ .
For further information, please contact:
Michel Fontaine
President and CEO of Windfall Geotek
Email: michel@windfallgeotek.com
Website: www.windfallgeotek.com
About Draganfly
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) isthe creator of quality, cutting-edge drone solutions, software and AIsystems that revolutionize the way organizations can do business andservice their stakeholders. Recognized as being at the forefront oftechnology for over 22 years, Draganfly is an award-winning,industry-leader serving the public safety, agriculture, industrialinspections, security, mapping, and surveying markets. Draganfly is acompany driven by passion, ingenuity, and the need to provideefficient solutions and first-class services to its customers aroundthe world with the goal of saving time, money, and lives.
For more information on Draganfly, please visit usat www.draganfly.com . For additionalinvestor 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 .
MediaContact
Arian Hopkins
email: media@draganfly.com
About ThreeD Capital
ThreeD is a publicly-traded Canadian-based venturecapital firm focused on opportunistic investments in companies in thejunior resources and disruptive technologies sectors. ThreeD’sinvestment strategy is to invest in multiple private and publiccompanies across a variety of sectors globally. ThreeD seeks to investin early stage, promising companies where it may be the lead investorand can additionally provide investees with advisory services andaccess to the Company’s ecosystem.
Jakson Inwentash, CFA
VP Investments
ThreeD Capital Inc.
130 Spadina Avenue, Suite 401
Toronto, ON
M5V 2L4
Email: jinwentash@threedcap.com
Additional information about the Company is availableunder Windfall Geotek’s profile on SEDAR at www.sedar.com . Neither the TSXVenture Exchange nor does its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptresponsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This newsrelease contains forward-looking information, which relate to futureevents or future performance and reflect management’s currentexpectations and assumptions. The information in this news releaseabout 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 TSXVenture Exchange relating to the Offering; and any other informationherein that is not a historical fact may be forward-lookinginformation. Such forward-looking information reflect management’scurrent 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 operatingcosts varying significantly from estimates; delays in obtaining orfailures to obtain required governmental, environmental or otherproject approvals; uncertainties relating to the availability andcosts of financing needed in the future; changes in equity markets;inflation; fluctuations in commodity prices; delays in the developmentof projects; and those risks set out in the Company’s publicdocuments filed on SEDAR (www.sedar.com) under Windfall Geotek’sissuer profile. Investors are cautioned that these forward-lookingstatements are neither promises nor guarantees, and they are subjectto risks and uncertainties that may cause future results to differmaterially from those expected. These forward-looking statements aremade as of the date hereof and, except as required under applicablesecurities legislation, the Company does not assume any obligation toupdate or revise them to reflect new events or circumstances.
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