DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Brossard, Quebec - TheNewswire - March 15, 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, is pleased to announce the appointment of Mr. Simran Kamboj, as President and Chief Technology Officer (CTO). Mr. Kamboj brings over a decade of technology engineering experience in machine learning and artificial intelligence. Most recently Mr. Kamboj lead a team at Lixar, a division of BDO, where he worked on AI solutions for mining, and electrification projects. Prior to his tenure at Lixar, Mr. Kamboj lead product management at Patriot One Technologies (TSX:PAT, OTC: PTOTF) and holds a degree in biomedical engineering from Ryerson University.
Dinesh Kandanchatha, Chairman of Windfall Geotek commented: "I am excited to welcome Simran to the team. His tireless efforts during the early days of Patriot One made him a natural choice to lead the technology and operations of Windfall as we transform another industry. Simran brings a unique combination of industry experience, technical execution in AI and Machine learning, with operational leadership in cloud product go to markets.”
“I have spent the past decade working on projects that I have an emotional connection to. The chance to participate with the Windfall team on making a serious impact to climate change through AI and cloud technology is an opportunity I couldn’t resist,” commented Mr. Kamboj. “I know my experience in scaling three different technology startups including Patriot One, will be a great complement to the value proposition that Windfall has for electrification.”
Mr. Kandanchatha will also assume the position of CEO on an interim basis as the board continues its search for a permanent replacement for Mr. Fontaine.
Furthermore, Michel Fontaine is resigning effective March 15, 2021 from the position of Director, CEO and President. Mr. Fontaine will continue in a sales capacity with the firm, and we thank him for his many years of service to Windfall shareholders and look forward to continuing to work with him in his new role.
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.