WINKF - Windfall Geotek Announces Changes to Management Team
(TheNewswire)
DOES NOT CONSTITUTE AN OFFER OF THESECURITIES DESCRIBED HEREIN
Brossard, Quebec - The Newswire - Feb1st, 2022 - Windfall Geotek (TSXV:WIN ) ( OTC:WINKF ) ( FSE:L7C2) a leader inthe use of Artificial Intelligence (AI) with advancedknowledge-extraction techniques since 2005 in the mining sector ispleased to announce the appointment of Mr. Scott Kelly, as the ChiefFinancial Officer. Scott Kelly has 17 years of experience acting as asenior officer and/or director of various companies (private andpublic) with operations and assets throughout North & SouthAmerica. Mr. Kelly obtained his Bachelor of Commerce degree fromRoyal Roads University in 2001 and has since helped manage companiesthrough all stages of their life cycle; from initial public offeringsthrough to being successfully acquired through M&A transactions. Mr. Kelly most recently held the position of CFO for Ely GoldRoyalties Inc, Mako Mining Corp, Ethos Gold Corp. and Pediment GoldCorp.
Furthermore, Daniel Belisle will be resigning as CFOeffective Jan 31st, 2022. Daniel Belisle will continue to stay on as aconsultant to help Mr. Kelly in the transition. Windfall’s boardwould like to thank Mr. Belisle for his service to the Windfall Geotekshareholders and look forward to working successfully through thistransition.
Dinesh Kandanchatha, Chairman ofWindfall Geotek commented: “Mr. Kelly brings nearly two decades of experience in leadingroyalty businesses. His experience most recently with ELY Gold Royaltyas part of the team that worked on a $130M transaction, brings aconsummate deal maker with a deep professional network to the teamthat will be focused on maximizing our equity positions and royaltyopportunities. ”
Simran Kamboj, President and CTOcommented: “Mr. Kelly hasexperience with companies at every stage of the mining life cycle,he’s incredibly aware of the value we bring as finding newdiscoveries becomes harder with existing methods. We’re incrediblyexcited to have him as part of the team to help shape the future ofWindfall Geotek. I firmly believe Mr.Kelly’s experience and industryexpertise will help us generate significant shareholder value in theupcoming years.”
Scott Kelly commented : “I’m excitedto join the Windfall team as they continue to expand on their proventrack record of success. Windfall’s AI technology brings a new butproven tool to the industry, which increases the chance of discoveryby helping to define high priority targets during the explorationprocess. As demand for global decarbonization increases, new toolssuch as this are an exciting and important advancement for theindustry.”
In connection with the appointment, Windfall announcesthe grant of 250,000 options to Scott Kelly exercisable for a periodof 5 years at $0.085, vesting 25% (62,500) every six months for aperiod of 24 months, with the first 25% (62,500) vesting immediately.
About Windfall Geotek – Powered by Artificial 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 todevelop a new royalty stream by significantly enhancing andparticipating in the exploration success rate of mining and tocontinue the Land Mine detection application as a high priority. Windfall has played a partin numerous past discoveries utilizing its methodology as describedat: https://windfallgeotek.com/ .
For further information, please contact:
Simran Kamboj
President and CTO of Windfall Geotek
Email: simran@windfallgeotek.com
Website: www.windfallgeotek.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.
FORWARD-LOOKINGSTATEMENTS: This news release contains forward-looking statements,which relate to future events or future performance and reflectmanagement’s current expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and using information currentlyavailable to the Company. Investors are cautioned that theseforward-looking statements are neither promises nor guarantees, andthey are subject to risks and uncertainties that may cause futureresults to differ materially from those expected. Theseforward-looking statements are made as of the date hereof and, exceptas required under applicable securities legislation, the Company doesnot assume any obligation to update or revise them to reflect newevents or circumstances. All forward-looking statements made in thispress release are qualified by these cautionary statements and bythose made in our filings with SEDAR in Canada (available atWWW.SEDAR.COM).
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