IRW-PRESS: Windfall Geotech Inc.: Windfall Geotech Announces Binding Letter of Intent with the Vancouver-based Group for Chanpai’s Property
Does not act as an offer for sale or needs Securities present here
– The Vancouver-based investment group was chosen from among several interested parties
– The letter of intent is based on an equity position in the company, an NSR (net smelter royalty), an active seat of the board of directors, the right to participate in all future financing, and input in relation to the management team.
– From 1953–1991, the Chapais area produced 1 billion pounds of copper and 1 million ounces of gold.
Brosward, Quebec, May 11, 2021 – Windfall Geotech (TSX-V: WIN, OTCQB: WINKF, FSE: L7C2) (Windfall or Company), a mining technology company and a leader in the use of artificial intelligence (AI). Advanced technology for the Knowledge Generation since 2005, announcing that it has signed a binding letter of intent to enter into an agreement to develop the Chapsey property (see Windfall news release on April 8, 2021) . The terms of the definitive agreement are expected to be incorporated into the latest and finalized by 19 July 2021:
1. Issue of shares to Windfall Geotech prior to IPO / RTO valuation
2. Issue an NSR for the concession area
3. Board positions with consequent public unity and input in filling key positions
Chairman Dinesh Kandanath commented, “There is a lot of interest in this property and we are happy to announce that we have selected a partner with whom we can envision a long-term relationship. Our intention is to work with partners who understand that our technology can reach various stages of the project.
About the chapis concession area
– Large property with 36 claims, 1,560 hectares located 490 km northwest of Montreal. Road access with access to the power grid
– From 1953–1991, the Chapais area produced more than 1 billion pounds of copper and 1 million ounces of gold.
– The mineral on the Chapei property may be of a copper-gold vein type, as in Opamiska, particularly due to its proximity to the Springer and Perry mines. Springer Mine mineralized vanes are confined to the fracture network contained in the optic fractions of the gabrobic venture sil, which continues in the Chapis property.
– Windfall Geotech’s AI system has identified key gold, copper and zinc targets in land packages
– The property QC Opémiska is adjacent to the copper and gold property
Figure 1. Geotech AI copper windfall target on chapis property
Figure 2. Windfall Geotech AI Gold Target at Chanais Property
Figure 3. Windfall Geotech AI zinc target on the Chanais property
Windfall Geotech – Strong Thanks to Artificial Intelligence (AI) since 2005
Windfall is an artificial intelligence expert, who has been in business for 15 years, developing his own analytical (AI) and data mining techniques. Windfall Geotech can rely on a multi-disciplinary team with experts in the fields of geophysics, geology, artificial intelligence and mathematics. The company combines available data sets from the public and private sectors, including geophysical data, borehole data, and surface data. The algorithms developed and used by Windfall are calculated in such a way that they highlight areas of interest with the possibility of geological similarity with other gold deposits and mineralogical materials. With AI, Windfall Geotech increases shareholder value, as it reduces both time and exploration costs, while at the same time reducing the environmental impact of mineral exploration. Windfall Geotech will efficiently use its AI technology to identify precious and industrial metals that will play an important role in future electrification and reducing global carbon footprint. The company aims to develop new cash flows from license fees by significantly increasing exploration participation rates and participation in the mining sector and prioritizing work on applications to explore landmines. Windfall has been involved in many discoveries in the past with its methodology, described here: https://windfallgeotek.com/.
for more information contact:
President and CTO
Email: [email protected]
Tel: 1 (450) 678-8882
Additional information of the company is available on the Windfall Geotech profile at SEDAR (www.sedar.com). The TSX Venture Exchange and its regulatory bodies (referred to in the articles of association of the Association of TSX Venture Exchange as Regulation Service Providers) assume no responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements: This press release contains forward-looking statements related to future events or future performance that reflect management’s current expectations and beliefs. Such forward-looking statements reflect current perceptions of management and are based on assumptions made by the company and information currently available to the company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to vary prospectively. These forward-looking statements speak as of the date of this press release and the company bears no obligation to update or revise them to reflect new events or circumstances, except for the applicable securities laws. All forward-looking statements in this press release are limited by this and other cautionary information in our filings with the Canadian Securities and Exchange Commission (www.sedar.com).
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