CEO.CA TECHNOLOGIES NAME CHANGE GOLDSPOT DISCOVERIES
In October 2021, the Company acquired CEO.CA Technologies Ltd., a leading and rapidly growing investment social network used by over 9 million corporate executives, institutional and retail investors with deep roots in the mining industry among other sectors. o Under the terms of the purchase agreement, the vendors of CEO.CA received an aggregate of 10,280,373 common shares of the Company at a deemed price of $1.07 per common share, representing approximately $11,000,000 with the majority of the common shares placed in a voluntary lock-up to be released pursuant to a three-year lock-up schedule, as well as an aggregate cash payment of $5,205,000 (calculated based upon an originally agreed cash purchase price of $6,000,000, less approximately $795,000 in liabilities assumed by the Company in connection with the acquisition). Millions of people visit CEO.CA each year to connect with investors from around the world, share knowledge and view impactful stories about stocks, commodities and emerging companies. Management believes that the acquisition of CEO.CA will: o create a diversified platform opportunity to bring the Company's artificial intelligence and proven service technologies to a much larger global client base. o bring democratized data analytics and enhanced sector transparency to a rapidly growing social network. o define the future of mineral exploration investment software that will enable shareholders of explorers across mineral and deposit types to identify opportunities and generate results.