Windfall Geotek Announces Closing Of $680,000 Private Placement

Core Viewpoint - Windfall Geotek Inc. has successfully closed a non-brokered private placement, raising $680,000 through the issuance of 34,000,000 units at a price of $0.02 per unit, which will support the development of its AI models for mineral exploration and UXO detection [1][2][3] Financial Summary - The private placement raised a total of $680,000 by issuing 34,000,000 units at $0.02 each, with each unit consisting of one common share and one warrant [2] - Each warrant allows the holder to purchase an additional common share at an exercise price of $0.05 for 24 months following the closing date [2] - Finder's fees totaling $3,850 in cash were paid to certain qualified parties [3] Use of Proceeds - The net proceeds from the private placement will be allocated to: - Advancing the AI-based mineral exploration platform for identifying potential mineral targets - Supporting the AI technology for UXO detection, which is currently under evaluation and pilot testing - Providing general working capital and funding for research and development activities [3][5] Company Overview - Windfall Geotek is a leader in AI-driven mineral exploration, utilizing complex geoscience data to make high-potential discoveries with speed and accuracy [4] - The company has identified over 39 AI-assisted discoveries in collaboration with exploration clients and is expanding its AI expertise into UXO detection applications [3][4] - The company aims to validate selected AI-generated targets to demonstrate the reliability of its AI system [4]