GoldSpot Discoveries (TSXV: SPOT; OTC: SPOFF) plans to change its name to EarthLabs Inc. to reflect the evolution of its asset portfolio and corporate mission to create, acquire and manage market-leading technology businesses in the resource exploration and development sector.
GoldSpot is focused on driving mineral discoveries through artificial intelligence. The company has become the undisputed leader in technology, big data and AI-centric mineral exploration with unmatched technical access and a team of over 80 geoscientists and data scientists/engineers. The team has accurately targeted resources with the highest probability of economic discovery, uncovering the largest mineral discovery in modern history in the Queensway gold project in Newfoundland.
But increasingly, GoldSpot's technology has evolved beyond different subsectors within exploration, and over the past years has grown into a diverse group of software, technology, field logistics and advisory businesses. GoldSpot has now grown into a company that enables future resource exploration and development by breaking down barriers along the entire value chain with its innovative approaches and technology. With the maturation of vision, a rebrand is necessary to reflect GoldSpot's structural changes and to broaden its investor base.
EarthLabs will represent a collection of industry-leading earth modelling, geology data management and specialized financial products that help both mining companies and mining investors make better decisions, the company stated.
"To date, there is no doubt that GoldSpot has thrived in the mining sector with its unique business model and elite team of scientists," said Denis Laviolette, executive chairman and president. "While our subsidiaries and their brands are not changing, the new structure will empower them to develop their independence and leadership with support from the EarthLabs mothership. EarthLabs will continue to pursue opportunities within our vision of creating a more economical, collaborative and sustainable exploration sector driven by innovation and technology."
Under EarthLabs, GoldSpot plans to report on two operating segments: financial technology and exploration technology. The former will house the company's financial technology, which include the Resource Quantamental, CEO.CA and DigiGeoData assets, while the latter will include the company's flagship consultancy company, GoldSpot Discoveries, as well as both in-house and acquired products and service lines.
To learn more about each product under GoldSpot's portfolio, visit www.goldspot.ca.