WINKF - Windfall Geotek Announces and Closes Its Non-Brokered Private Placement
(TheNewswire)
Brossard, Quebec - TheNewswire - January 20, 2021 –Windfall Geotek (“Corporation”) (TSXV:WIN )(OTC:WINKF), a Canadian mining technology and services company, aglobal leader in the use of Artificial Intelligence (AI) for digitalexploration techniques since 2005, announce the closing of itsnon-brokered private placement by issuing 9,996,667 units at a priceof $0.06 per share for gross proceeds of $599,800.
Each Unit consists of one common share and one commonshare purchase warrant. Each full common share purchase warrantentitles the holder to purchase one common share at a price of $0.08until January 20, 2023.
Insiders of the Corporation has participated bypurchasing 733,334 common shares.
The net proceeds will be used for funding it’sR&D for the security application (Landmines), to complete Internalgold signatures in the Red Lake (end of January), Kirkland Lake andTimmins areas as well as new hiring for marketing expansion inMontreal and soon, at our new Toronto office.
All securities issued in the private placement aresubject to a four-month hold period and to all necessary regulatoryapprovals, including the approval of the Exchange.
About Windfall Geotek – Powered byArtificial Intelligence (AI) since 2005
Windfall Geotek (TSX-V:WIN) is the leader in the use of Artificial Intelligence (AI) andadvanced knowledge-extraction techniques in Digital Exploration since2005 in the mining sector. Windfall Geotek can count on amultidisciplinary team that includes professionals in geophysics,geology, Artificial Intelligence (AI), and mathematics. The Company'sobjective is to develop a new royalty stream by significantlyenhancing and participating in the exploration success rate of itsmining clients, and to continue to develop its securityapplication.
For further information, please contact:
Michel Fontaine
President and CEO of Windfall Geotek
Telephone: 514-994-5843
Email: michel@windfallgeotek.com
Website: www.windfallgeotek.com
Additional information about the Company is available under WindfallGeotek’s profile on SEDAR at www.sedar.com . Neither the TSX Venture Exchange nor does its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accept responsibility for the adequacy or accuracyof this release.
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