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home / news releases / WINKF - Windfall Geotek Finalizes Deal for the Copper Zinc and Gold Property in Chapais Quebec


WINKF - Windfall Geotek Finalizes Deal for the Copper Zinc and Gold Property in Chapais Quebec

(TheNewswire)



DOES NOT CONSTITUTE AN OFFER OF THESECURITIES DESCRIBED HEREIN

Brossard, Quebec - TheNewswire - June28, 2021 – 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 a finalized option agreement of the Chapaisproperty to Grand Pacific Resources Inc. Grand Pacific Resources Incis a private company that will be going public in the near future. Thedeal terms provide Windfall Geotek with a 10% stake in the property,1% NSR with the right to buy 1% in the future for $500k, pre-IPO/RTOpriced shares, cash payments and a 20% interest in issued &outstanding common shares when the company goes public.

Deal Term Highlights:

  • - On or before December 31, 2021 and upon completion ofa going public transaction Windfall Geotek will be issued an amount ofshares in order to own 20% of the currently issued & outstandingshares.

    - 10% stake in the property option

    - 1 % NSR with the right to buy 1% in the future for$500k

    - Board seat on the public entity by Grand PacificResources Inc.

    - Undisclosed cash considerations

Dinesh Kandanchatha, Chairman ofWindfall Geotek commented: “We are excited to partner with the team at Grand PacificResources. After a rigorous process and evaluating multiple avenues,it became clear that this was the best option for Windfallshareholders. Windfall Geotek intends on playing a key part throughour AI and Drone services in the development of this resourcealongside Grand Pacific Resources.”



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 part in numerous pastdiscoveries utilizing its methodology as described at: https://windfallgeotek.com/ .

For further information, please contact:

Simran Kamboj

President and CTO of Windfall Geotek

Email: simran@windfallgeotek.com

Website: www.windfallgeotek.com
Phone: 1-855-946-5145

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).

Copyright (c) 2021 TheNewswire - All rights reserved.

Stock Information

Company Name: Windfall Geotek Inc - Ordinary Shares
Stock Symbol: WINKF
Market: OTC
Website: windfallgeotek.com

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