Windfall Geotek Announces Closing Of $680,000 Private Placement

Executive Summary

• Windfall Geotek Inc. closed a non‑brokered private placement, raising $680,000 through the issuance of 34,000,000 units at $0.02 per unit.
• Each unit includes one common share and one warrant to purchase an additional share at $0.05 exercisable for 24 months after closing.
• Net proceeds will be used to advance AI‑driven mineral exploration, support AI UXO detection pilot testing, and fund general working capital and R&D.

Key Details

• Units Issued: 34,000,000 units ($0.02 per unit)
• Total Gross Proceeds: $680,000
• Unit Composition: 1 common share + 1 common share purchase warrant
• Warrant Terms: Right to acquire one additional common share at an exercise price of $0.05; exercisable for 24 months post‑closing
• Statutory Hold Period: Four (4) months and one (1) day from issuance for all securities
• Finder’s Fees Paid: $3,850 in cash to qualified parties
• Use of Proceeds:
• Advance AI‑based mineral exploration platform for target identification
• Support AI technology development for UXO detection (internal evaluation & pilot testing)
• General working capital and research & development activities
• CEO Quote: “We appreciate the continued support from our shareholders… This financing enables us to continue developing and validating our AI models for both mineral exploration and UXO detection applications.” – Michel Fontaine, President & CEO

Notable Quotes

“We appreciate the continued support from our shareholders,” said Michel Fontaine, President and CEO of Windfall Geotek. “This financing enables us to continue developing and validating our AI models for both mineral exploration and UXO detection applications.”