Windfall Geotek arranges $500,000 private placement

Executive Summary

• Windfall Geotek Inc. announced a non-brokered private placement of up to 25 million units at $0.02 per unit, raising maximum gross proceeds of $500,000.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.05 per share for two years.
• Net proceeds are designated for working capital, bona fide debt settlement (excluding officer/director salaries), and investor relations activities.

Key Details

• Offering Size: Up to 25 million units.
• Price: $0.02 per unit.
• Gross Proceeds: Up to $500,000.
• Structure: Non-brokered private placement.
• Warrant Terms: Each unit includes one common share purchase warrant; exercise price of $0.05 per warrant share; exercisable for a period of two years following closing.
• Use of Proceeds: Working capital, bona fide debt settlement (specifically excluding accrued salaries to officers or directors), and payment for investor relations activities.
• Conditions: Completion is subject to regulatory approval.
• Finder's Fees: The company may pay finders' fees to eligible parties who assisted in introducing subscribers.

Notable Quotes

• None provided in the text.