The ExplorTech division comprises the EarthLabs’ GoldSpot Discoveries consulting group alongside Ridgeline Exploration Services Inc. and Geotic Inc. Its sale would reduce the company’s R&D costs and G&A expenses by approximately 70% year over year, creating a leaner, autonomous product portfolio of tech driven mineral exploration and financial tools.
Upon closing, EarthLabs will have approximately $53.7 million in cash, securities and equity investment; royalties and royalty options on 21 projects (it is currently the largest royalty holder in Newfoundland); and a product portfolio that includes Resource Quantamental, CEO.CA and DigiGeoData.
EarthLabs background
EarthLabs, formerly known as GoldSpot Discoveries, was formed in 2016 as a first-of-its-kind quant shop and tech incubator using artificial intelligence and machine learning to identify patterns necessary to fingerprint geophysical, geochemical, lithological and…
