Windfall Geotek Announces Private Placement

Executive Summary

• Windfall Geotek announced a non‑brokered private placement of up to 25 million units at $0.02 per unit, targeting gross proceeds of up to $500,000.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.05 for two years after closing.
• Net proceeds will be used for working capital and bona‑fide debt settlement (excluding officer salaries and investor‑relations costs).

Key Details

• Offering Size: Up to 25,000,000 units.
• Price per Unit: $0.02.
• Maximum Gross Proceeds: $500,000.
• Unit Composition: 1 common share + 1 warrant (exercise price $0.05 per share).
• Warrant Term: exercisable for two years post‑closing.
• Use of Proceeds: Working capital and bona‑fide debt settlement; expressly excludes accrued salaries to officers/directors and investor‑relations expenses.
• Finder’s Fees: May be paid to parties introducing subscribers, subject to regulatory approval.
• Regulatory Condition: Completion pending regulatory approvals.

Notable Quotes

(No direct quotes were provided in the release.)