CEO of Windfall Geotek Recaps Q3 Results and Significant Milestones

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)



 

Brossard, Quebec - The Newswire - February 4, 2020 – Windfall Geotek (TSXV:WIN) a mining  and technology services company and leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector, is pleased to report highlights for the 3rd quarter of its fiscal year 2019-2020 and its recent successes.

 

It is with great pleasure that I announce the completion of our Q3 and recap the progress that we, at Windfall Geotek, have made during this period. Q3 was the first complete quarter of the execution of our strategy to partner with high potential mining companies in the digital exploration of their properties and projects. We have had massive interest in this business model that is cash neutral to Windfall shareholders but has resulted in the accumulation of assets valued in excess of $711,000 as of January 27, 2020 and contracts totaling $320,000.00. This represents the best quarter for new contracts in the history of the company. We expect this momentum to continue as we refine and expand our digital exploration strategies.

 

In addition to our significant market traction for the CARDS AI-based digital exploration system, we were able to make significant progress in regard to our Chapais and Ashuanipi properties. With the filing of a new National Instrument 43-101 (NI43-101) technical report on the Chapais project and the reduction of claims from 298 to 115 on our Ashuanipi gold project, we expect to drive a reduction in costs and increase in returns for Windfall shareholders.

 

There has also been significant progress on the intellectual property portfolio of the company. We rebranded the company as Windfall Geotek with the new ticker WIN and applied for the corresponding trademarks. This significant achievement will serve as a foundation to our efforts to share our business plan and business prospects with Canadian public markets and strategic investors.

 

Lastly, we spent the quarter lining up business and technical partners to take advantage of the incredible opportunity that CARDS AI application brings to the detection of land mines and improvised explosive devices. Conservative estimates state that over $700,000,000 is spent annually by Armed Forces and NGO’s to battle this horrible problem. As we progress on this exciting new front of the Windfall business, we are recruiting some of the strongest partners available. Through the efforts of our Chairman, Dinesh Kandanchatha, a founder of Patriot One Technologies (PAT.TO), we are committed to accelerate our go-to-market strategy by leveraging our technology partners. I expect that the security and defense sectors will prove to be an excellent revenue stream addition to our core product in the mining sector.

 

I wish to thank our existing shareholders for their support and confidence as we pivot the business to our new operating model and markets. It is clear that we are gaining momentum and are rapidly establishing ourselves as a leader in the digital exploration sector.

 

About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005

 

Windfall Geotek is a services company using Artificial Intelligence (AI) with an extensive portfolio of gold, copper and zinc properties in Quebec. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.

 

For further information, please contact:

 

Michel Fontaine

President and CEO of Windfall Geotek

Telephone: 514-994-5843

Email: [email protected]

Website: www.windfallgeotek.com


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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Copyright (c) 2020 TheNewswire - All rights reserved.