DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Brossard, Quebec - The Newswire - March 23, 2021 - Windfall Geotek (TSXV:WIN) (OTC:WINKF) (FSE:L7C2) (“Windfall” or the “Company”) a mining technology company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector announces it has engaged Mark Billings to do a complete review of all the assets of Windfall Geotek, including but not limited to work done at Kirkland Lake, Timmins, and projects in Quebec. Over the past 15 years Windfall has produced targets for over 90 projects, of which only 30 have been validated and many are associated closely with electrification metals. Mr. Billings will be contracted to review all of the targets, Net Smelter Returns (NSR’s) and claims of Windfall to present a plan for monetizing those assets and projects to the board. Mr. Billings has over 20 years of experience in the resource sector and holds an MBA in Finance from Harvard Business School. He is currently an executive or director with Canadian-based companies in the mining sector.
Dinesh Kandanchatha, Chairman commented, “Mark’s background in the resource sector and his educational pedigree make him a perfect fit for this task. Over 15 years you can accumulate a lot of hidden value that with the right mix of creativity and capital can create massive momentum, especially during this shift to electrification metals. We are building a team of operational and investment leaders which will attract the best projects and maximize the leverage from our CARDS AI technology, and it starts by taking stock of what we have.”
Mark Billings commented, “I am excited to use my experience in the resource sector and financial background to support the execution of the Windfall business plan. As a longtime colleague of Sheldon Inwentash and having watched Windfall’s evolution over the past few years, I feel like the timing is perfect for this kind of company.”
The scope of this engagement will include projects and assets in Australia, Brazil, Burkina Faso, Chile, Dominican Republic, Haiti, Mexico, Norway, New Brunswick, Newfoundland, Ontario, Quebec, and Tanzania.
The Company also announces its contract with Winning Media (“WM”) to provide strategic digital media services, marketing, and data analytics services (the “Services”). The Company has agreed to pay WM $250,000USD in consideration for the Services to be provided for a 6-month term. WM will not receive any securities of the Company as compensation for the Services. WM is a Houston, Texas based marketing agency that specializes in digital and corporate brand marketing services to enhance corporate visibility and retail investor awareness.
The company announces the grant of 2,500,000 options to Simran Kamboj, President and CTO exercisable for a period of 5 years at $0.365 and vested in four quarterly installments ending December 31, 2021.
About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
For further information, please contact:
Chairman and Interim CEO of Windfall Geotek
Additional information about the Company is available under Windfall Geotek’s profile on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains forward-looking information, which relate to future events or future performance and reflect management’s current expectations and assumptions. The information in this news release about changes to management and expectations in this regard; and any other information herein that is not a historical fact may be forward-looking information. Such forward-looking information reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Such factors include, but are not limited to, achievements of new management varying significantly from expectations; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Windfall Geotek’s issuer profile. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.