GoldSpot Discoveries, whose leading technology is transforming the mineral discovery process, agreed this week to acquire Geotic for $2.5 million in cash and shares. Geotic, an award-winning provider of geological and geophysical modelling software, based in Val-d'Or, Que., will operate as a standalone subsidiary of GoldSpot.
The company has also announced it is acquiring CEO.ca, a leading and growing investment social network, for $11 million. Founded in 2012, it has over 8 million corporate executives, institutional and retail investors with roots in the mining industry and other sectors. CEO.ca is one of the most popular free financial website and apps in Canada and with the acquisition, GoldSpot plans to launch a technology and media division.
As for the Geotic purchase, the company's software includes GeoticLog, its customizable core-logging platform; GeoticMine, its 3-D geological modelling and visualization solution; GeoticGraph, its drill-hole visualizer, GeoticCAD, a cost-effective alternative to common industry tools with an integrated drawing motor; and GeoticField, its field-based survey data-entry platform.
Geotic also offers a unique drill core photography hardware device which allows for linearized drill photography to be uploaded into the Geotic software suite.
From drilling data collection to 3D modelling, Geotic offers an integrated software solution to hundreds of global junior mineral explorers and senior producers with cost effective data analytics and an unmatched focus on quality and ease of use over traditional manual data collection methods.
Users and accounts of Geotic, as a GoldSpot company, should expect business as usual, with improved product development and market engagement strategies.
Geotic and GoldSpot technology provides for a powerful collaboration, enabling GoldSpot to create deeper integrations across the Company's growing product suite. Specifically, GoldSpot will be integrating GeoticLog and LithoLens, its proprietary core imaging technology to create an industry-first core logging and artificial intelligence based imaging platform, driving deeper and actionable analytics for customers.
The addition of the Geotic team adds additional bench strength to GoldSpot's deep experience in geology, artificial intelligence, machine learning, user experience, data visualization and cloud technology.
Learn more at www.GoldSpot.ca and www.Geotic.ca.
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