Across many industries, artificial intelligence (AI) and disruptive technologies are becoming commonplace.
This is especially true in the mining industry, where there is growing interest in integrating AI into mining facilities. These technologies aim to improve efficiency and productivity. Though relatively new, the possibilities for AI in mining are numerous.
That’s where ThreeD Capital comes in.
In February 2021, ThreeD acquired ownership and control of Windfall Geotek Inc., a company that focuses on revitalizing global mining through the application of advanced disruptive technologies, such as AI.
ThreeD Capital now owns an aggregate of 8.9 million common shares and 1 million common-share purchase warrants of the company.
“This investment in Windfall Geotek Inc. shows our commitment to developing disruptive technologies,” said ThreeD Founder, Chairman and CEO, Sheldon Inwentash, who has more than 30 years of experience investing in disruptive technologies, including AI technology in the mining industry.
Combining traditional miners with intelligent sensors will make mining safer, smarter and more efficient. AI collects data, allowing miners to process it much faster than in the past. AI technology can also help reduce the environmental impact of mining while increasing revenue.
Robots and drones can get to spaces impossible for humans to reach. Easier access would also mean an increase in production and the ability to keep up with the never-ending demand for certain metals. Worker safety has always been a concern in the mining industry. With AI it is possible to reduce accidents by testing out potentially dangerous situations with a robot.
With advancements in AI and disruptive technologies, it’s more important than ever to have companies willing to invest, Sheldon Inwentash said.
“We think the technologies at Windfall have immense potential, and we look forward to working with them,” he said.
ThreeD Capital is a publicly-traded, Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. The company seeks to invest in early stage companies, allowing it to become the lead investor.
As of February 26, ThreeD’s Subject Shares represented about 10 percent of all issued and outstanding common shares of Windfall.
The Subject Units were acquired through a series of transactions. About 1 million Subject Shares and 1,000,000 Subject Warrants were acquired in a private placement, not through the facilities of any stock exchange for aggregate consideration payable of $60,000.
The remaining Subject Shares were acquired in the open market through the facilities of the Canadian Securities Exchange for aggregate consideration payable of $1.9 million, or about $0.25 per Subject Share.
Before the recent transactions, ThreeD did not hold any securities of Windfall.
The holdings of securities of Windfall by ThreeD are managed for investment purposes, and ThreeD could increase or decrease their investments in Windfall at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor.
“I’m looking forward to working more with Windfall, and seeing where this investment takes us,” said Inwentash.