GoldSpot continues growth with DigiGeoData acquisition

GoldSpot Discoveries, a leading technology company leveraging artificial intelligence and data science to transform the mineral discovery process, has closed its acquisition of DigiGeoData, a powerful digital mapping SaaS (software as a service) interface and mineral resource intelligence database company.

Founded in 2018, the DigiGeoData team is responsible for pioneering modern mining cartography as the creators of the mineral exploration industry's global standard regional maps. Today, DigiGeoData is developing its premier 'Atlas' platform, a software-based GIS (geographic information system) interactive mapping interface alongside its 'Maps' distribution business used by over 300 clients.

The DigiGeoData deal follows GoldSpot's purchase of CEO.ca and Geotic last year.

DigiGeoData's full suite of software and services include:

DigiGeoAtlas – A SaaS based online GIS interactive mapping interface that spatially links and displays data from DigiGeoMaps and DigiGeoData. Atlas is offered as a free and paid subscription service with a full suite of seamless claim data, National Instrument 43-101 technical reports, property and assets, geological layers, and additional features.

DigiGeoMaps – The industry standard, DigiGeoData's maps provide an overview both on a global or country scale or a more focused regional basis that has significant exploration and mining activity. Over 300 mineral exploration companies have sponsored DigiGeoData maps so far through physical and electronic distribution.

DigiGeoData – The database is the source of information that feeds DigiGeoMaps and DigiGeoAtlas. All accessible data is queried and displayed from the database. Data includes current resources, production, and technical reports searchable by several parameters.

Under the terms of the purchase agreement, the shareholders of DigiGeoData received an aggregate of approximately 2.8 million common shares of GoldSpot at a deemed price of $1.07 per share, representing an aggregate value of $3 million with the shares to be placed in a voluntary lock-up and released in tranches pursuant to a 30-month lock-up schedule, as well as an aggregate cash payment of $1 million. All common shares issued by the company in connection with the acquisition are subject to a statutory hold period expiring on June 2, 2022.

Learn more by visiting GoldSpot Discoveries and DigiGeoData.